The Relative Strength (RS) Rating for Watsco entered a new percentile Tuesday, with an increase from 70 to 80.
This proprietary rating measures market leadership by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
History reveals that the market's biggest winners often have an RS Rating of over 80 in the early stages of their moves.
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Watsco is within a buying range after clearing a 520.41 entry in a consolidation. The proper buying range is up to 5% above the initial entry. Once a stock hits that benchmark, it's best to wait for it to set up another buying opportunity.
Watsco posted -3% EPS growth last quarter. Revenue rose 2%.
Watsco earns the No. 9 rank among its peers in the Building-A/C & Heating Products industry group. Comfort Systems USA, Trane Technologies and CSW Industrials are among the top 5 highly rated stocks within the group.
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