When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Star Bulk Carriers stock, which had its Relative Strength (RS) Rating upgraded from 61 to 81 Thursday.
When looking for the best stocks to buy and watch, keep a close on eye on 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 movement over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the market's biggest winners tend to have an 80 or higher RS Rating in the early stages of their moves.
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Is Star Bulk Carriers Stock A Buy?
Star Bulk Carriers stock is building a double bottom with a 24.61 buy point. See if it can clear the breakout price in volume at least 40% above average. Keep in mind that it's a later-stage consolidation, and those entail more risk. Also, the stock market has been selling off so it's not a good idea to add positions at this time.
The transportation firm posted negative growth for both the top and bottom lines last quarter.
Star Bulk Carriers stock holds the No. 7 rank among its peers in the Transportation-Ship industry group. Kirby Corp and Capital Product Partners are also among the group's highest-rated stocks.
