When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is BJs Whlsl Hldgs, which saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, with an increase from 81 to 91.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength. IBD's proprietary rating tracks price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
History reveals that the market's biggest winners typically have an 80 or higher RS Rating as they begin their largest runs.
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BJs Wholesale stock is building a double bottom with a 71.10 entry. See if the stock can clear the breakout price in heavy volume. It's a later-stage pattern, and investors should be aware that those are less likely to lead to significant gains.
Of interest, the relative strength line has entered new high ground, a sign the stock is outperforming the general market in terms of price performance.
Earnings Review
Top and bottom line growth moved higher last quarter. Earnings were up 21%, compared to 14% in the prior report. Revenue increased from 10% to 16%.
The company earns the No. 2 rank among its peers in the Retail-Discount & Variety industry group. Grocery Outlet Hdg is the top-ranked stock within the group.
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