When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Univar Solutions stock, which saw a positive improvement to its Relative Strength (RS) Rating on Thursday, rising from 88 to 90. The chemical maker scores 94 Composite Rating.
When looking for 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 market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks compares to all the other stocks in our database.
History shows that the best stocks often have an 80 or better RS Rating at the beginning of a new price run.
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Is Univar Solutions Stock A Buy?
Univar Solutions stock broke out earlier, but has fallen back below the prior 28.78 entry from a double bottom. If a stock you're tracking clears a buy point then declines 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 chart pattern and buy point. Also understand 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. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Taking a look at revenue and profit performance, Univar has posted five quarters of rising earnings growth. Sales gains have also increased over the same time frame. The chemical specialist will report quarterly earnings on Feb. 24.
The Univar Solutions stock holds the No. 3 rank among its peers in the Chemicals-Specialty industry group. Tronox and Element Solutions are among the top 5 highly rated stocks within the group.
