When putting together your watch list, focus on stocks with an 80 or higher RS Rating. Costco Wholesale now meets that criteria, with a jump from 77 to 81 Friday.
This proprietary rating measures technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
History shows that the market's biggest winners typically have an RS Rating north of 80 in the early stages of their moves.
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While the stock is not near an ideal buying range right now, see if it is able to form and break out from a proper chart pattern.
While the company's bottom line growth fell in the company's most recent quarterly report from 10% to 8%, revenue grew 9%, up from 8% in the prior report.
Costco Wholesale earns the No. 1 rank among its peers in the Retail-Major Discount Chains industry group. PriceSmart and Walmart are also among the group's highest-rated stocks.
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.
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