On Wednesday, PPG Industries got an upgrade to its Relative Strength (RS) Rating, from 66 to 73. The stock still needs some improvement since most CANSLIM indicators are still lagging.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary rating tracks share price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of over 80 as they launch their largest runs. See if PPG Industries can continue to show renewed price strength and clear that threshold.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to establish and enter a buy zone in heavy volume. The recent gap-up above key moving averages is encouraging, so worthy of your watchlist.
Earnings News
PPG Industries showed -3% EPS growth in the latest quarterly report. Sales increased 0%.
PPG Industries holds the No. 3 rank among its peers in the Chemicals-Paints industry group. RPM Intl is also among the group's highest-rated stocks.
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