In a welcome move, AutoZone saw its Relative Strength Rating improve from 66 to 71 on Wednesday.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's proprietary RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an RS Rating of over 80 as they launch their largest price moves. See if AutoZone can continue to show renewed price strength and hit that benchmark.
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AutoZone is working on a flat base with a 1,274.51 entry. See if it can break out in volume at least 40% above average.
The company showed 9% earnings growth in its most recent report. Sales increased 6%.
AutoZone earns the No. 4 rank among its peers in the Retail/Wholesale-Auto industry group. Copart is the top-ranked stock within the group.