When considering what names to put on your watch list, look for stocks with an 80 or higher RS Rating. General Motors just met that criteria with a new score of 83.
Hone Your Stock-Picking Skills By Focusing On These Factors
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains tend to have an RS Rating of above 80 as they begin their biggest climbs.
General Motors is now considered extended and out of buy range after clearing a 53.96 buy point in a second-stage cup with handle. 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.
The company posted negative growth for both the top and bottom lines last quarter. General Motors is expected to release its next quarterly numbers on or around Oct. 21.
General Motors earns the No. 3 rank among its peers in the Auto Manufacturers industry group. Ferrari is the top-ranked stock 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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