The Relative Strength (RS) Rating for First Watch Restaurant jumped into a new percentile Wednesday, with a rise from 71 to 84.
This unique rating tracks market leadership 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.
Decades of market research shows that the stocks that go on to make the biggest gains often have an RS Rating of at least 80 as they begin their biggest climbs.
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First Watch Restaurant broke out earlier, but has fallen back below the prior 22.01 entry from a consolidation. If a stock you're tracking clears a buy point then falls 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 consolidation and breakout. Also keep in mind that the most recent pattern is a later-stage base, and such bases are more prone to failure.
First Watch Restaurant showed -67% earnings growth in its most recent report, while sales growth came in at 15%. Look for the next report on or around Mar. 11.
First Watch Restaurant earns the No. 22 rank among its peers in the Retail-Restaurants industry group. Dutch Bros, CAVA Group and Cheesecake Factory are among the top 5 highly rated stocks within the group.
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