When considering what names to put on your watch list, focus on stocks with an 80 or higher RS Rating. Republic Services just cleared that benchmark with an upgrade from 79 to 82.
IBD's proprietary RS Rating identifies market leadership by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
Over 100 years of market history reveals that the top-performing stocks typically have an 80 or higher RS Rating as they begin their biggest price moves.
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Republic Services has moved more than 5% past a 217.16 entry in a first-stage cup with handle, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company posted 12% EPS growth in its most recent report, while sales growth came in at 6%.
The company earns the No. 2 rank among its peers in the Pollution-Control industry group. Aris Water Solutions is the top-ranked stock within the group.
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