On Friday, Coca-Cola Europacific earned a positive adjustment to its Relative Strength (RS) Rating, from 89 to 93.
IBD's unique rating tracks share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the best-performing stocks typically have an RS Rating of at least 80 at the beginning of a new climb.
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Coca-Cola Europacific broke out earlier, but has fallen back below the prior 88.39 entry from a flat base. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to form. 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.
The company showed 1% EPS growth in the latest quarterly report, while sales growth came in at 7%. Keep an eye out for the company's next round of numbers on or around Apr. 29.
Coca-Cola Europacific holds the No. 6 rank among its peers in the Beverages-Non-Alcoholic industry group. Primo Brands, Coca-Cola Consolidated and Coca-Cola Femsa ADR are among the top 5 highly rated stocks within the group.
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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