AutoNation had its Relative Strength (RS) Rating upgraded from 69 to 73 Thursday — a welcome improvement, but still below the 80 or higher score you look for.
This unique rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks compares to other publicly traded companies.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 as they begin their largest climbs. See if AutoNation can continue to show renewed price strength and hit that benchmark.
How To Invest In Stocks In Both Bull And Bear Markets
AutoNation is building a consolidation with a 197.18 entry. See if the stock can clear the breakout price in volume at least 40% higher than normal.
Although earnings and sales growth came in at -27% and -4%, respectively, in the latest report, that showed improvement for both the top and bottom lines.
The company earns the No. 12 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.
RELATED:
Which Stocks Are Showing Rising Relative Strength?
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!
