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Metals 2023-07-25: Unchanged at "Strong" strength rating (4th strongest of 9 levels), previous move was up

Brian Degracia

• 1 min read
Metals 2023-07-25: Unchanged at "Strong" strength rating (4th strongest of 9 levels), previous move was up
Metals for the trading week ending 2023-07-25. No changes to any sub-industries.

Though there has been some choppiness over the past 8 weeks in a couple of the sub-industries, Metals/Mining overall has been moving up over the past 4 weeks. Copper is leading at Very Strong, but note it only has 2 stocks, while 4-stock Aluminum is right behind at Stronger.  Steel & Iron with 11 stocks is also Stronger and has been steadily strengthening for the past 8 weeks.

The industry has strengthened over the past 4 weeks from Weak to its current Strong level. Gold is back to its current Strong level from 8 weeks ago after declining in the interim.

Leaders and Laggards

Current strongest and weakest stocks are shown below. These are of most interest as the downtrodden are prone to large (if perhaps temporary) pops while the strongest have been leading the charge for their sub-industries.

Only one Gold stock in this grouping and it is rated Weakest, falling to that level just this week. This week there was an equal offsetting of Metals/Mining stocks rising to Strongest vs. falling to Weakest. Industrial Metals & Minerals has a big contingent of Strongest stocks though its overall sub-industry strength rating is only Strong - comparatively lower than would be expected given as many Strongest stocks as it has.

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