On Monday, Cal-Maine Foods earned an upgrade to its Relative Strength (RS) Rating, from 88 to 91.
IBD's proprietary RS Rating measures market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 at the beginning of a new price run.
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Cal-Maine Foods is now considered extended and out of buy range after clearing a 72.70 buy point in a first-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
While EPS growth decreased in the prior quarter from 15,200% to 1,177%, sales rose 82%, up from 71% in the previous report. Look for the next report on or around Apr. 1.
The company holds the No. 1 rank among its peers in the Food-Meat Products industry group. Pilgrim's Pride and Vital Farms 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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