On Tuesday, Carpenter Technology (CRS) stock reached an important technical milestone, with its Relative Strength (RS) Rating moving into the 90-plus percentile with an improvement to 91, up from 81 the day before.
XWhen looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's proprietary RS Rating measures market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
History reveals that the best-performing stocks often have an RS Rating of above 80 at the beginning of a new climb.
Looking For The Best Stocks To Buy And Watch? Start Here
Is Carpenter Technology Stock A Buy?
Carpenter Technology stock had a failed breakout from a cup-with-handle pattern with a 39.36 entry point. The metals stock is not currently near a potential buy zone. See if the stock goes on to build a base that could kick off a new climb.
Earnings growth picked up last quarter from 0% to 96%. But revenue gains fell from 39% to 34%. Look for the next report on or around Oct. 28.
Carpenter Technology stock earns the No. 4 rank among its peers in the Steel-Specialty Alloys industry group. ATI (ATI) and Ascent Industries (ACNT) are among the top 5 highly rated stocks within the group.
YOU MIGHT ALSO LIKE:
MarketSmith's Tools Can Help The Individual Investor
IBD Live: A New Tool For Daily Stock Market Analysis
Profit From Short-Term Trends With SwingTrader
How To Research Growth Stocks: Why This IBD Tool Simplifies The Search For Top Stocks
The post Carpenter Technology Stock Scores Relative Strength Upgrade appeared first on Investor's Business Daily.
from Investor's Business Daily https://ift.tt/AIrutd8