On Tuesday, QXO reached a key performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 81, up from 72 the day before.
Looking For The Best Stocks To Buy And Watch? Start Here
IBD's unique RS Rating tracks market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history shows that the best-performing stocks typically have an 80 or better RS Rating as they begin their biggest price moves.
QXO is now considered extended and out of buy range after clearing an 18.18 buy point in a first-stage consolidation. 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.
The company showed 0% EPS growth in the latest quarterly report. Revenue rose -6%.
QXO holds the No. 21 rank among its peers in the Commercial Services-Consulting industry group. Stantec, VSE and Huron Consulting Group 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:
Stocks With Rising Relative Strength Ratings
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
