The Relative Strength (RS) Rating for GXO Logistics entered a new percentile Wednesday, as it got a lift from 68 to 72.
IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks compares to other publicly traded companies.
History reveals that the stocks that go on to make the biggest gains tend to have an 80 or better RS Rating as they launch their biggest price moves. See if GXO Logistics can continue to rebound and hit that benchmark.
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GXO Logistics is now considered extended and out of buy range after clearing a 52.37 buy point in a first-stage double bottom. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Top and bottom line growth moved higher last quarter. Earnings were up 29%, compared to -21% in the prior report. Revenue increased from 19% to 28%.
The company earns the No. 3 rank among its peers in the Transportation-Logistics industry group. XPO is the top-ranked stock within the group.
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