When putting together your watch list, look for stocks with an 80 or higher RS Rating. AutoNation is one stock that just reached the mark, now earning a score of 83.
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This unique rating measures technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an RS Rating of above 80 in the early stages of their moves.
AutoNation is within a buy range after climbing above a 193.24 buy point in a cup with handle. The proper buying range is up to 5% above the initial entry. Once a stock moves above that range, it's best to hold off investing and wait for it to set up another buying opportunity.
Earnings growth increased last quarter from -1% to 4%, but the top line fell from 7% to 3%.
The company holds 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.
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