The Relative Strength (RS) Rating for Trex stock entered a new percentile Thursday, with an increase from 68 to 80.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
This exclusive rating from Investor's Business Daily identifies share price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
History shows that the market's biggest winners typically have an RS Rating north of 80 in the early stages of their moves.
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Is Trex Stock A Buy?
Trex stock broke out earlier, but is now approximately 5% below the prior 59.94 entry from a cup without handle. If a stock you're tracking clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new base and buy point. Also keep in mind that the latest consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
Although earnings and sales growth came in at -39% and -30%, respectively, in the latest report, that marked two straight quarters of improvement for EPS and two for the top line.
Trex stock holds the No. 23 rank among its peers in the Building-Construction Products/Miscellaneous industry group. Core & Main and TopBuild are also among the group's highest-rated stocks.
