On Thursday, Patrick Industries hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 81, up from 67 the day before.
This exclusive rating from Investor's Business Daily identifies price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners tend to have an RS Rating of above 80 as they launch their biggest runs.
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While Patrick Industries is not near an ideal buy zone right now, see if it manages to form and break out of a proper base.
Patrick Industries reported -1% EPS growth last quarter. Sales rose 6%.
Patrick Industries earns the No. 4 rank among its peers in the Building-Mobile/Manufacturing & RV industry group. Champion Homes is the No. 1-ranked stock within the group.
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