In a welcome move, O'Reilly Automotive saw its Relative Strength Rating rise from 70 to 78 on Monday.
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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 last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains tend to have an RS Rating of over 80 in the early stages of their moves. See if O'Reilly Automotive can continue to show renewed price strength and clear that threshold.
O'Reilly Automotive has climbed more than 5% past a 97.27 entry in a first-stage flat base, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.
Top and bottom line growth moved higher last quarter. Earnings were up 11%, compared to 2% in the prior report. Revenue increased from 4% to 6%. Keep an eye out for the company's next round of numbers on or around Oct. 22.
O'Reilly Automotive earns the No. 1 rank among its peers in the Retail/Wholesale-Auto industry group. AutoZone and Genuine Parts are also among the group's highest-rated stocks.
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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IBD Stock Rating Upgrades: Rising Relative Strength