On Tuesday, Tilray earned an upgrade to its Relative Strength (RS) Rating, from 67 to 74.

As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.

This proprietary rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks stacks up against all 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 climbs. See if Tilray can continue to rebound and hit that benchmark.

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Tilray is now considered extended and out of buy range after clearing a 12.25 buy point in a first-stage cup without handle. See if the stock forms a new chart pattern or follow-on buying opportunity 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 146%, compared to 0% in the prior report. Revenue increased from 15% to 25%.

The company holds the No. 9 rank among its peers in the Consumer Products-Specialty industry group. Central Garden & Pet and Energizer are also among the group's highest-rated stocks.