Credit: Shutterstock photoOn Tuesday, U.S. Concrete ( USCR ) earned a positive adjustment to its Relative Strength ( RS ) Rating , from 65 to 73.
[ibd-display-video id=2385970 width=50 float=left autostart=true] This proprietary rating tracks technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history shows that the best stocks tend to have an RS Rating north of 80 as they launch their largest runs. See if U.S. Concrete can continue to show renewed price strength and hit that benchmark.
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U.S. Concrete broke out earlier, but has fallen back below the prior 83.95 entry from a cup without handle . In the case where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new base to take shape. Also understand that the latest pattern is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
The company showed -17% EPS growth in its most recent report, while sales growth came in at 8%.
U.S. Concrete holds the No. 3 rank among its peers in the Building-Cement/Concrete/Aggregates industry group. Eagle Materials ( EXP ) is the top-ranked stock within the group.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
