On Friday, Goodyear Tire & Rubber hit a noteworthy performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 85, up from 74 the day before.
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This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the market's biggest winners typically have an RS Rating north of 80 in the early stages of their moves.
Goodyear Tire & Rubber broke out earlier, but has fallen back below the prior 11.09 entry from a consolidation. If a stock you're tracking clears a buy point then falls 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new base and breakout. Also keep in mind that the latest pattern is a later-stage base, and such bases are more prone to failure.
While revenue growth fell last quarter from -3% to -6%, earnings-per-share grew 0%, up from -17% in the prior report.
The company earns the No. 2 rank among its peers in the Auto/Truck-Tires & Miscellaneous industry group. Douglas Dynamics is the No. 1-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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