On Wednesday, Autonation hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 79 the day before.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
This exclusive rating from Investor's Business Daily measures price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the best stocks often have an RS Rating of over 80 in the early stages of their moves.
Looking For Winning Stocks? Try This Simple Routine
The IBD 50 stock is working on a consolidation with a 133.58 entry. Now that it has earnings behind it, see if the stock can clear the breakout price in volume at least 40% above average. Keep in mind of current market conditions and be prepared to move quickly.
Autonation stock reported 107% earnings growth last quarter, while sales growth came in at 14%. The stock moved up on the news, but has fallen back in early trading today.
Autonation earns the No. 1 rank among its peers in the Retail/Wholesale-Auto Parts industry group.
Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks
