MI Homes saw a positive improvement to its Relative Strength (RS) Rating on Wednesday, rising from 70 to 73.

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

IBD's proprietary rating measures share price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.

History reveals that the market's biggest winners tend to have an 80 or higher RS Rating as they begin their biggest price moves. See if MI Homes can continue to show renewed price strength and hit that benchmark.

Looking For The Best Stocks To Buy And Watch? Start Here

MI Homes is not currently showing a potential buy point. See if the stock goes on to form a promising consolidation that could launch a new move.

The company reported 89% earnings growth in the latest quarterly report, while sales growth came in at 35%. Look for the next report on or around Oct. 28.

MI Homes earns the No. 1 rank among its peers in the Building-Residential/Commercial industry group.