In a welcome move, Prologis saw its Relative Strength Rating improve from 66 to 72 on Thursday.
This unique rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks compares to the rest of the market.
Over 100 years of market history shows that the best-performing stocks typically have an RS Rating of at least 80 as they launch their biggest climbs. See if Prologis can continue to show renewed price strength and hit that benchmark.
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Prologis is working on a double bottom with a 132.57 entry. See if the stock can break out in volume at least 40% higher than normal.
In terms of fundamentals, the company has posted two quarters of rising earnings growth. Sales growth has also increased over the same time frame.
The company holds the No. 6 rank among its peers in the Finance-Property REITs industry group. Welltower, Essex Property Trust and First Indl Realty Trust are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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