On Thursday, Penske Automotive received a positive adjustment to its Relative Strength (RS) Rating, from 66 to 72.
IBD's unique RS Rating identifies technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the best-performing stocks tend to have an RS Rating north of 80 as they launch their largest runs. See if Penske Automotive can continue to show renewed price strength and hit that benchmark.
When To Sell Stocks To Lock In Profits And Minimize Losses
Penske Automotive is now considered extended and out of buy range after clearing a 155.36 buy point in a first-stage cup without 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 line.
Penske Automotive saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -15% to 3%. Revenue rose from 2% to 6%.
The company holds the No. 8 rank among its peers in the Retail/Wholesale-Auto Parts industry group. OPENLANE, Group 1 Automotive and Carvana Cl A 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.
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