When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is La-Z-Boy stock, which saw a positive improvement to its Relative Strength (RS) Rating on Thursday, rising from 77 to 90.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength. IBD's proprietary rating tracks price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains often have an RS Rating of above 80 in the early stages of their moves.
Looking For The Best Stocks To Buy And Watch? Start Here
Is La-Z-Boy Stock A Buy?
La-Z-Boy stock has risen more than 5% past a 30.33 entry in a first-stage cup with handle, meaning it's now out of a proper buy zone. Look for the stock pull back and offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
While the home furnishing company's top line growth fell last quarter from 6% to 0%, earnings-per-share grew 40%, up from 24% in the prior report.
La-Z-Boy holds the No. 4 rank among its peers in the Retail-Home Furnishings industry group. Arhaus and Haverty Furniture are among the top 5 highly rated stocks within the group.
