On Tuesday, AutoZone reached an important performance benchmark, with its Relative Strength (RS) Rating jumping into the 90-plus percentile with an improvement to 92, an increase from 88 the day before.
IBD's proprietary RS Rating identifies technical performance 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.
History reveals that the market's biggest winners tend to have an RS Rating north of 80 in the early stages of their moves.
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AutoZone is not currently near a potential buying area. See if the stock goes on to form a promising consolidation that could launch a new move.
The company posted -2% earnings growth in the latest quarterly report. Sales rose 2%.
AutoZone earns the No. 2 rank among its peers in the Retail/Wholesale-Auto industry group. Driven Brands is the top-ranked stock 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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