BJ's Wholesale Club saw a positive improvement to its Relative Strength (RS) Rating on Friday, with an increase from 89 to 94.
This unique rating measures technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks matches up against the rest of the market.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 in the early stages of their moves.
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BJ's Wholesale Club has risen more than 5% past a 100.74 entry in a first-stage cup without handle, meaning it's now out of a proper buy zone. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
BJ's Wholesale Club posted negative growth for both sales and earnings last quarter.
The company earns the No. 1 rank among its peers in the Retail-Discount & Variety industry group. Ollie's Bargain Outlet and MINISO Group Holding ADR are also among the group's highest-rated stocks.
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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