Berry Global Group saw a positive improvement to its Relative Strength (RS) Rating on Thursday, rising from 70 to 77.
IBD's proprietary RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the best-performing stocks typically have an 80 or better RS Rating as they launch their largest price moves. See if Berry Global Group can continue to show renewed price strength and hit that benchmark.
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Berry Global Group broke out earlier, but is now about 4% below the prior 69.94 entry from a consolidation. If a stock you're tracking climbs above a buy point then declines 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new pattern and breakout. Also keep in mind that the latest pattern is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
Berry Global Group saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -2% to 16%. Revenue rose from -6% to -2%. Keep an eye out for the company's next round of numbers on or around Nov. 20.
Berry Global Group holds the No. 4 rank among its peers in the Containers/Packaging industry group. UFP Technologies is the top-ranked stock within the group.
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