Encore Wire Shows Market Leadership With Jump To 81 RS Rating
When putting together your watch list, focus on stocks with an 80 or higher RS Rating. Encore Wire (WIRE) now meets that criteria, with an increase from 76 to 81 Wednesday.
X When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating tracks market leadership by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
Over 100 years of market history reveals that the market's biggest winners typically have an 80 or better RS Rating as they begin their biggest price moves.
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Encore Wire is trying to complete a consolidation with a 206.74 entry. See if it can break out in volume at least 40% above average. Be aware that it's a fourth-stage base. Such later-stage patterns involve more risk and are more likely to fail than first- or second-stage formations.
The company posted negative growth for both sales and earnings last quarter.
Encore Wire earns the No. 18 rank among its peers in the Electrical Power/Equipment industry group. Powell Industries (POWL) and Allied Motion Techs (AMOT) are also among the group's highest-rated stocks.
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