On Friday, FedEx got a positive adjustment to its Relative Strength (RS) Rating, from 70 to 74.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
History shows that the market's biggest winners tend to have an RS Rating north of 80 as they launch their largest price moves. See if FedEx can continue to show renewed price strength and clear that threshold.
Looking For Winning Stocks? Try This Simple Routine
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to establish and enter a buy zone in heavy volume.
The company reported negative growth for both the top and bottom lines last quarter. FedEx is expected to report its next quarterly numbers on or around Mar. 16.
FedEx earns the No. 3 rank among its peers in the Transportation-Air Freight industry group. United Parcel Service is also among the group's highest-rated stocks.
Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks
