Stock Upgrades: Summit Materials Shows Rising Relative Strength

In a welcome move, Summit Materials (SUM) saw its Relative Strength Rating improve from 64 to 74 on Monday.


When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.

IBD’s unique RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock’s price performance over the last 52 weeks compares to other publicly traded companies.

Over 100 years of market history shows that the market’s biggest winners typically have an RS Rating of over 80 in the early stages of their moves. See if Summit Materials can continue to rebound and hit that benchmark.

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Summit Materials has moved more than 5% past an 18.11 entry in a first-stage double bottom, meaning it’s now out of a proper buy zone. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.

The company posted 15% earnings growth in the latest quarterly report. Revenue rose -3%.

The company earns the No. 7 rank among its peers in the Building-Cement/Concrete/Aggregates industry group. Martin Marietta Materials (MLM) and United States Lime & Minerals (USLM) are also among the group’s highest-rated stocks.


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