When considering what names to put on your watch list, focus on stocks with an 80 or higher RS Rating. Old Dominion Freight Line just cleared that benchmark with an upgrade from 77 to 85.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This proprietary rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against other publicly traded companies.
History shows that the best stocks typically have an RS Rating north of 80 as they begin their biggest climbs.
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While it's not currently an ideal time to buy shares, see if the stock is able to establish and enter a buying range in heavy trade now that earnings is behind us. Three solid up days in a row brought it up to the 200-day line, a key indicator. Will it break through or hit a ceiling?
The company reported 43% EPS growth in its most recent report. Revenue rose 26%.
The company earns the No. 9 rank among its peers in the Transportation-Truck industry group. Covenant and Forward Air are also among the group's highest-rated stocks.
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