On Monday, O'Reilly Automotive reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 80 the day before.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains tend to have an 80 or better RS Rating in the early stages of their moves.
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O'Reilly Automotive has risen more than 5% past a 1,005.96 entry in a first-stage cup without handle, meaning it's now out of a proper buy zone. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
O'Reilly Automotive reported 11% earnings growth last quarter. Revenue increased 5%. Keep an eye out for the company's next round of numbers on or around Apr. 24.
The company holds the No. 4 rank among its peers in the Retail/Wholesale-Auto industry group. Copart is the No. 1-ranked stock within the group.
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