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One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Legence (LGN) just hit that mark, with a jump from 65 to 84 Monday. IBD's unique RS Rating tracks technical performance by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes. Decades of market research reveals that the best stocks typically have an RS Rating of over 80 as they launch their biggest climbs. Legence has risen more than 5% past a 34.40 entry in a first-stage ipo base, meaning it's now out of a proper buy range. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line. The company reported 0% earnings growth last quarter, while sales growth came in at 15%. Legence earns the No. 18 rank among its peers in the Building-Construction Products/Miscellaneous industry group. Armstrong Wrld Ind (AWI), Acuity (AYI) and LSI Industries (LYTS) are among the top 5 highly rated stocks within the group. This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
