In a welcome move, ABM Industries saw its Relative Strength Rating improve from 69 to 72 on Wednesday.
IBD's proprietary RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history shows that the best stocks tend to have an RS Rating north of 80 in the early stages of their moves. See if ABM Industries can continue to show renewed price strength and clear that threshold.
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ABM Industries is trying to complete a consolidation with a 59.78 buy point. See if the stock can break out in heavy trade. It's a later-stage pattern, and investors should be aware that those are less likely to work.
While the company's bottom line growth dropped in the company's most recent quarterly report from 19% to -11%, revenue grew 4%, up from 3% in the previous report.
ABM Industries holds the No. 6 rank among its peers in the Building-Maintenance & Services industry group. EMCOR Group, IES Holdings and Frontdoor are among the top 5 highly rated stocks within the group.
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