In a welcome move, RBC Bearings saw its Relative Strength Rating rise from 62 to 78 on Thursday.
This proprietary rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks compares to the rest of the market.
History reveals that the best stocks often have an RS Rating north of 80 as they launch their largest price moves. See if RBC Bearings can continue to show renewed price strength and hit that benchmark.
Can You Really Time The Stock Market?
RBC Bearings is in a buying range after moving past a 309.00 entry in a consolidation. Once a stock moves 5% or higher beyond the original entry, it's considered extended and out of buy range.
The company reported 6% earnings growth in the latest quarterly report, while sales growth came in at 3%.
The company holds the No. 3 rank among its peers in the Metal-Fabricators industry group. Mueller Industries is the top-ranked stock within the group.
RELATED:
Stocks With Rising Relative Strength Ratings
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
