Ryder System had its Relative Strength (RS) Rating upgraded from 80 to 84 Thursday.
This proprietary rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against the rest of the market.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains typically have an RS Rating of over 80 in the early stages of their moves.
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Ryder System is now considered extended and out of buy range after clearing a 128.85 buy point in a first-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
While sales growth fell last quarter from 10% to 8%, the bottom line grew -4%, up from -17% in the previous report.
The company holds the No. 7 rank among its peers in the Commercial Services-Leasing industry group. Willis Lease Finance, Herc Holdings and United Rentals are among the top 5 highly rated stocks within the group.
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