One important metric to look for in a stock is an 80 or higher Relative Strength Rating. La-Z-Boy just hit that mark, with a jump from 78 to 84 Thursday.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains typically have an RS Rating of over 80 in the early stages of their moves.
Hone Your Stock-Picking Skills By Focusing On These Factors
La-Z-Boy broke out earlier, but has fallen back below the prior 46.47 entry from a flat base. If a stock you're watching clears a buy point then declines 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 base and breakout. Also understand that the latest consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
Top and bottom line growth moved higher last quarter. Earnings were up 1%, compared to -4% in the prior report. Revenue increased from 2% to 4%.
The company earns the No. 2 rank among its peers in the Retail-Home Furnishings industry group. Williams-Sonoma is the No. 1-ranked stock within the group.
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