Penske Automotive saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, with an increase from 67 to 75.
When To Sell Stocks To Lock In Profits And Minimize Losses
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the top-performing stocks often have an RS Rating north of 80 in the early stages of their moves. See if Penske Automotive can continue to rebound and hit that benchmark.
Penske Automotive is now considered extended and out of buy range after clearing a 169.79 buy point in a first-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 moving average.
Penske Automotive posted 5% earnings growth last quarter, while sales growth came in at 0%.
The company earns the No. 6 rank among its peers in the Retail/Wholesale-Auto Parts industry group. Carvana Cl A, OPENLANE and Group 1 Automotive are among the top 5 highly rated stocks 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.
RELATED:
Which Stocks Are Showing Improved Technical Action?
