Lowe's stock had its Relative Strength (RS) Rating upgraded from 68 to 74 Monday -- a welcome improvement, but still below the 80 or better score you look for.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matched up against all other stocks.
History reveals that the top-performing stocks typically have an RS Rating north of 80 in the early stages of their moves. See if Lowe's stock can continue to rebound and clear that threshold.
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Is Lowe's Stock A Buy?
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the home improvement retailer stock is able to establish and enter a buying range in heavy volume.
The home improvement retailer showed 5% earnings growth in the latest quarterly report. Revenue increased -6%. Look for the next report on or around Aug. 22.
Lowe's stock holds the No. 6 rank among its peers in the Retail/Wholesale-Building Products industry group. SiteOne Landscape Supply and Home Depot are also among the group's highest-rated stocks.
