When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Franchise Group Inc, which had its Relative Strength (RS) Rating upgraded from 69 to 88 Friday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against that of all other stocks.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 in the early stages of their moves.
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Is Franchise Group Stock A Buy?
Franchise Group stock is trying to retake its 200-day moving average, but the recent market selloff is not making it easy. While now is not an ideal time to invest, see if the stock manages to offer and clear a proper buy point. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The tax preparation firm posted 37% earnings growth in its most recent report. Revenue increased 83%.
Franchise Group stock holds the No. 3 rank among its peers in the Financial Services-Specialty industry group. FinTech Acquisition II and Franchise Group Inc are also among the group's highest-rated stocks.
