In a welcome move, Matson saw its Relative Strength Rating rise from 69 to 74 on Monday.
IBD's unique RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks compares to the rest of the market.
Decades of market research shows that the best stocks typically have an RS Rating of above 80 as they begin their biggest runs. See if Matson can continue to show renewed price strength and hit that benchmark.
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Matson is now considered extended and out of buy range after clearing a 122.99 buy point in a second-stage consolidation. 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.
Earnings growth moved up in the company's most recent report from 73% to 113%, but revenue fell from 16% to 13%.
Matson earns the No. 2 rank among its peers in the Transportation-Ship industry group. ZIM Integrated Shipping is the No. 1-ranked stock 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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