In a welcome move, AutoNation saw its Relative Strength Rating improve from 66 to 72 on Thursday.
IBD's unique RS Rating identifies technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the best stocks often have an RS Rating of over 80 in the early stages of their moves. See if AutoNation can continue to show renewed price strength and clear that threshold.
Can You Really Time The Stock Market?
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock manages to offer and clear a proper buy point.
Top and bottom line growth moved higher last quarter. Earnings were up -1%, compared to -27% in the prior report. Revenue increased from -4% to 7%.
AutoNation earns the No. 8 rank among its peers in the Retail/Wholesale-Auto Parts industry group. OPENLANE, Group 1 Automotive and Carvana Cl A are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
RELATED:
IBD Stock Rating Upgrades: Rising Relative Strength
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
