Genuine Parts Stock Shows Market Leadership With Jump To 89 RS Rating
Genuine Parts stock saw a welcome improvement to its Relative Strength (RS) Rating on Friday, rising from 79 to 89.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's proprietary rating tracks share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the top-performing stocks often have an RS Rating north of 80 as they launch their biggest runs.
Is Genuine Parts Stock A Buy?
The IBD 50 stock is working on a cup-with-handle pattern with a 141.21 buy point. See if the stock can clear the breakout price in heavy trade. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
In terms of fundamentals, the auto parts retailer has posted rising EPS growth over the last two quarters. Revenue growth has also increased during the same period.
Genuine Parts stock holds the No. 1 rank among its peers in the Retail/Wholesale-Auto industry group. Other highly-rated stocks in this sector includes O'Reily Automotive and AutoZone.