United Parcel Service had its Relative Strength (RS) Rating upgraded from 67 to 72 Monday -- a welcome improvement, but still shy of the 80 or better score you look for.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's proprietary RS 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 matched up against all other stocks.
History shows that the best stocks often have an RS Rating of over 80 in the early stages of their moves. See if United Parcel Service can continue to rebound and hit that benchmark.
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United Parcel Service is not currently offering a proper buying opportunity. It has just cleared some key moving averages. So let's see if the stock goes on to form a promising consolidation that could kick off a new price move.
Earnings Update
United Parcel Service reported 10% earnings growth last quarter, while sales growth came in at 6%. Keep in mind that the next quarterly results are expected on or around Jul. 27, just over a week from now.
The company holds the No. 2 rank among its peers in the Transportation-Air Freight industry group. FedEx is also among the group's highest-rated stocks.
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