On Friday, Comerica hit an important performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 80 the day before.

When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

This unique rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against the rest of the market.

Over 100 years of market history reveals that the top-performing stocks typically have an RS Rating north of 80 in the early stages of their moves.

See How IBD Helps You Make More Money In Stocks

Comerica broke out earlier, but has fallen back below the prior 74.12 entry from a double bottom. If a stock you're tracking clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and buy point. Also keep in mind that the most recent consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.

Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 176%, compared to 0% in the prior report. Revenue increased from -14% to 1%.

The company holds the No. 4 rank among its peers in the Banks-Super Regional industry group. Fifth Third Bancorp and PNC Financial Services are also among the group's highest-rated stocks.