Lowe's stock had its Relative Strength (RS) Rating upgraded from 70 to 73 Wednesday -- a welcome improvement, but still shy of the 80 or higher score you look for.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique rating tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the best-performing stocks typically have an 80 or better RS Rating in the early stages of their moves. See if Lowe's stock can continue to rebound and hit that benchmark.
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Is Lowe's Stock A Buy?
Lowe's stock is now considered extended and out of buy range after clearing a 227.00 buy point in a first-stage cup with handle. See if the retail stock forms a new chart pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The home improvement retailer posted negative growth for both sales and earnings last quarter.
Lowe's stock earns the No. 9 rank among its peers in the Retail/Wholesale-Building Products industry group. Tractor Supply and Floor & Decor Cl A are also among the group's highest-rated stocks.
