Carmax Getting Closer To Key Technical Measure
Carmax had its Relative Strength (RS) Rating upgraded from 67 to 75 Thursday -- a welcome improvement, but still shy of the 80 or better score you look for.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the best-performing stocks often have an 80 or better RS Rating as they launch their biggest runs. See if Carmax can continue to rebound and hit that benchmark.
Carmax is trying to complete a flat base with a 140.05 entry. See if it can clear the breakout price in volume at least 40% above average.
Earnings grew 1,043% last quarter, up from -2% in the prior report. Revenue also increased, from 4% to 138%. The next quarterly results are expected on or around Sep. 24.
The company earns the No. 7 rank among its peers in the Retail/Wholesale-Auto Parts industry group. Lazydays Holdings and Penske Automotive Group are also among the group's highest-rated stocks.