On Wednesday, Advance Auto Parts cleared a key technical benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 93, up from 90 the day before.
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This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research shows that the best stocks typically have an RS Rating of above 80 in the early stages of their moves.
Advance Auto Parts has climbed more than 5% past a 50.59 entry in a first-stage cup without handle, meaning it's now out of a proper buy zone. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Advance Auto Parts reported 0% earnings growth in the latest quarterly report, while sales growth came in at -7%. The company is expected to report its latest results on or around Aug. 14.
The company earns the No. 7 rank among its peers in the Retail/Wholesale-Auto industry group. Driven Brands, O'Reilly Automotive and AutoZone are among the top 5 highly rated stocks 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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