Veritiv stock saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 66 to 84.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against the rest of the market.
History reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 in the early stages of their moves.
Looking For The Best Stocks To Buy And Watch? Start Here
Is Veritiv Stock A Buy?
Veritiv stock is trying to complete a cup with handle with a 145.51 buy point. See if it can clear the breakout price in heavy trading. Keep in mind that it's a later-stage consolidation, and those entail more risk. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The commercial paper-packaging company reported 278% EPS growth in the latest quarterly report. Revenue rose 10%.
Veritiv stock holds the No. 4 rank among its peers in the Paper & Paper Production industry group. Clearwater Paper and Mercer International are also among the group's highest-rated stocks.
