QXO saw a positive improvement to its Relative Strength (RS) Rating on Friday, rising from 87 to 92.
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This proprietary rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks matches up against other publicly traded companies.
History reveals that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 at the beginning of a new price run.
QXO has moved more than 5% past an 18.18 entry in a first-stage consolidation, meaning it's now out of a proper buy zone. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
QXO posted 0% earnings growth in its most recent report. Revenue increased -6%.
QXO holds the No. 20 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.
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