We track 10 stocks in the Ferrous Metals industry (part of Metals & Mining), each checked every evening for a base — a stretch where the price moves sideways in a range instead of trending.
As of the latest close, 9 are still building a base; and 1 broke out earlier and is still above the breakout level.
The middle stock in this industry has a relative strength reading of 45 out of 99. That reading ranks each stock's price performance over the past year against every stock we track; half of this industry's 9 ranked stocks sit above 45 and half below. 1 stock has a reading of 70 or higher.
3 of the 9 stocks we could measure (33%) closed above their 200-day average price — the average close over the last 200 trading sessions.