On Wednesday, Tractor Supply received an upgrade to its Relative Strength (RS) Rating, from 77 to 82.
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IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the best stocks tend to have an 80 or better RS Rating as they begin their biggest runs.
Tractor Supply broke out earlier, but has fallen back below the prior 61.53 entry from a consolidation. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to form. Also understand that the latest consolidation is a later-stage base, and those involve more risk.
Earnings grew 3% last quarter, up from -8% in the prior report. Revenue also increased, from 2% to 5%.
The company holds the No. 2 rank among its peers in the Retail/Wholesale-Building Products industry group. Global Industrial is the No. 1-ranked stock 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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