When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is McKesson, which had its Relative Strength (RS) Rating upgraded from 74 to 81 Thursday, prior to the market open.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating tracks market leadership by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
History reveals that the best stocks typically have an RS Rating of above 80 in the early stages of their moves.
Full Earnings Calendar, Updated Weekly.
With today's gap up, McKesson is now considered extended and out of buy range after clearing a 401.78 buy point in a first-stage consolidation. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
MCK Earnings
In terms of fundamentals, McKesson has posted three quarters of accelerating earnings growth. Sales gains have also moved higher over the same time frame.
McKesson holds the No. 3 rank among its peers in the Medical-Wholesale Drugs industry group. Cardinal Health is also among the group's highest-rated stocks.
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