Forward Air saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an upgrade from 75 to 82.
This proprietary rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
History reveals that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating as they begin their biggest price moves.
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While the stock is not near a proper entry right now, see if it is able to form and break out of a proper consolidation.
Forward Air showed 0% earnings growth in its most recent report. Sales gains came in at 93%. The company is expected to report its latest earnings and sales numbers on or around Nov. 4.
Forward Air earns the No. 7 rank among its peers in the Transportation-Truck industry group. Universal Logistics, Saia and Primega Group Holdings are among the top 5 highly rated stocks within the group.
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