The Relative Strength (RS) Rating for Allegiant Travel entered a new percentile Thursday, with a rise from 77 to 82.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating tracks market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks tend to have an RS Rating of at least 80 as they begin their biggest climbs.
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While now is not an ideal time to invest, it is worth noting how the stock moved higher after bottoming out at the start of the year. It had a nice gap up on earnings, fell back, then closed tight in recent days. It is hovering just above key moving averages, as the airline industry appears ready to move up. Now let's see if the stock is able to offer and clear an appropriate buy point with higher volume.
Earnings Update
Earnings grew 169% last quarter, up from 0% in the prior report. Revenue also increased, from 22% to 23%.
Allegiant Travel earns the No. 10 rank among its peers in the Transportation-Airline industry group. United Airlines and Copa Holdings Cl A are also among the group's highest-rated stocks.
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