Credit: Shutterstock photoPrologis ( PLD ) saw a positive improvement to its Relative Strength ( RS ) Rating on Thursday, rising from 69 to 72.
[ibd-display-video id=2102289 width=50 float=left autostart=true] IBD's proprietary RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks matched up against all other stocks.
History shows that the best stocks tend to have an RS Rating of at least 80 as they begin their biggest climbs. See if Prologis can continue to show renewed price strength and clear that threshold.
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Prologis is now considered extended and out of buy range after clearing a 56.03 buy point in a first-stage flat base . See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company reported negative growth for both the top and bottom lines last quarter. Prologis is expected to release its next quarterly numbers on or around Jan. 24.
Prologis holds the No. 23 rank among its peers in the Finance-Property REITs industry group. CoreSite Realty ( COR ), Cubesmart ( CUBE ) and Terreno Realty ( TRNO ) are among the top 5 highly rated stocks within the group.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
