On Tuesday, Arcbest reached a noteworthy technical benchmark, with its Relative Strength (RS) Rating moving into the 90-plus percentile with an improvement to 92, a rise from 89 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matches up against all other stocks in our database.
Decades of market research shows that the best stocks often have an RS Rating of over 80 as they begin their largest climbs.
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Arcbest is now considered extended and out of buy range after clearing a 50.55 buy point in a second-stage consolidation. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
In terms of top and bottom line numbers, the company has posted rising EPS growth in each of the last four reports. Sales growth has also risen over the same time frame.
Arcbest earns the No. 3 rank among its peers in the Transportation-Truck industry group. Old Dominion Freight Line and PAM Transportation Services are among the top 5 highly rated stocks within the group.
