When putting together your watch list, look for stocks with an 80 or higher RS Rating. Sonic Automotive Cl A now meets that criteria, with an increase from 80 to 83 Wednesday.
This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against the rest of the market.
Over 100 years of market history shows that the market's biggest winners typically have an 80 or better RS Rating as they launch their biggest climbs.
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While the stock is not near an ideal buy zone right now, see if it is able to form and break out of a proper base.
While the company's bottom line growth fell in the company's most recently reported quarter from -20% to -38%, sales rose -4%, up from -5% in the prior report.
Sonic Automotive Cl A earns the No. 8 rank among its peers in the Retail/Wholesale-Auto Parts industry group. ACV Auctions, Group 1 Automotive and Lithia Motors are among the top 5 highly rated stocks within the group.
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