semi truck on highway

Old Dominion Freight Line (ODFL) stock saw a positive improvement to its Relative Strength (RS) Rating on Thursday, with an increase from 76 to 85.

When you’re researching the best stocks to buy and watch, keep a close on eye on relative price strength.

IBD’s unique rating tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.

History reveals that the best-performing stocks tend to have an RS Rating of above 80 in the early stages of their moves.

Is Old Dominion Freight Line Stock A Buy?

Old Dominion Freight Line stock has been trading below its 50- and 200-day moving averages the past two months. While now is not an ideal time to buy shares, see if the transportation stock goes on to offer and clear a proper buy point.

The transportation trucking firm posted 43% EPS growth in the latest quarterly report, while sales growth came in at 26%. The company is expected to report its latest results on or around Oct. 27.

Old Dominion Freight Line stock holds the No. 7 rank among its peers in the Transportation-Truck industry group. PAM Transportation Services (PTSI) and Tfi International (TFII) are also among the group’s highest-rated stocks.

Photo by Rhys Moult on Unsplash

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