On Wednesday, Floor & Decor got an upgrade to its Relative Strength (RS) Rating, from 67 to 83, while it also was just added to the IBD 50 Watchlist.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating tracks technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
History shows that the market's biggest winners often have an RS Rating of above 80 as they launch their biggest climbs.
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The IBD 50 stock is in a buying range after moving past an 88.82 buy point in a cup with handle. Once a stock moves 5% or higher beyond the initial entry, it's considered out of buy range.
Earnings growth increased last quarter from 4% to 17%. But revenue gains fell from 27% to 25%. The company is expected to report its latest numbers on or around Feb. 23.
Floor & Decor earns the No. 2 rank among its peers in the Retail/Wholesale-Building Products industry group. Tractor Supply is also among the group's highest-rated stocks.
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