Cleveland-Cliffs (CLF) stock had its Relative Strength (RS) Rating upgraded from 88 to 91 Tuesday.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength. IBD’s unique rating tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the market’s biggest winners often have an RS Rating of at least 80 at the beginning of a new climb.
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Is Cleveland-Cliffs Stock A Buy?
The IBD 50 stock is trying to complete a double bottom with a 24.77 entry. See if it can clear the breakout price in volume at least 40% above average. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.
The steel producer showed 642% earnings growth in the latest quarterly report, while sales growth came in at 137%.
Cleveland-Cliffs stock holds the No. 6 rank among its peers in the Steel-Producers industry group. Nucor (NUE), Steel Dynamics (STLD) and United States Steel (X) are among the top 5 highly rated stocks within the group.
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Source: https://www.investors.com/news/steel-producer-cleveland-cliffs-sees-rs-rating-jump-to-91/?src=A00220&yptr=yahoo