In a welcome move, Asbury Automotive saw its Relative Strength Rating improve from 67 to 71 on Tuesday.
This proprietary rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks compares to other publicly traded companies.
History reveals that the best stocks often have an 80 or better RS Rating in the early stages of their moves. See if Asbury Automotive can continue to show renewed price strength and clear that threshold.
When To Sell Stocks To Lock In Profits And Minimize Losses
Asbury Automotive broke out earlier, but has fallen back below the prior 267.92 entry from a cup with handle. If a stock you're tracking breaks past a buy point then falls 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new consolidation and breakout. Also understand that the most recent pattern is a later-stage base, and those involve more risk.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up -22%, compared to -28% in the prior report. Revenue increased from 13% to 16%.
The company earns the No. 6 rank among its peers in the Retail/Wholesale-Auto Parts industry group. ACV Auctions, Group 1 Automotive and Lithia Motors are among the top 5 highly rated stocks within the group.
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