On Thursday, AutoNation stock received an upgrade to its Relative Strength (RS) Rating, from 68 to 82.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating identifies market leadership by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
Decades of market research shows that the best-performing stocks typically have an 80 or higher RS Rating as they begin their biggest runs.
See How IBD Helps You Make More Money In Stocks
Is AutoNation Stock A Buy?
AutoNation stock is trying to complete the right side of a cup without handle with a 135.67 entry. See if the stock can break out in heavy trade. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
While the car dealership's bottom line growth dropped in the company's most recently reported quarter from 34% to 17%, sales grew 4%, up from -2% in the previous report.
AutoNation stock holds the No. 6 rank among its peers in the Retail/Wholesale-Auto Parts industry group. Asbury Automotive and Driven Brands are also among the group's highest-rated stocks.
