CSX stock had its Relative Strength (RS) Rating upgraded from 69 to 74 Monday -- a welcome improvement, but still shy of the 80 or higher score you prefer to see.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's proprietary RS 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 compares to the rest of the market.
History shows that the top-performing stocks tend to have an RS Rating of over 80 as they begin their largest climbs. See if CSX stock can continue to rebound and hit that benchmark.
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Is CSX Stock A Buy?
CSX stock has been trading in a narrow range and is not currently near a potential buy zone. See if the transportation stock goes on to form a sound pattern that could kick off a new climb.
The transportation company posted negative growth for both the top and bottom lines last quarter.
The company stock holds the No. 2 rank among its peers in the Transportation-Rail industry group. CSX and Union Pacific are also among the group's highest-rated stocks.
