On Monday, Olin stock received a positive adjustment to its Relative Strength (RS) Rating, from 86 to 93.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength. This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the best stocks typically have an RS Rating north of 80 at the beginning of a new run.
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Is Olin Stock A Buy?
The IBD 50 stock broke out earlier, but has fallen back below the prior 61.01 entry from a cup with handle. If a stock you're tracking clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and entry price. Also understand that the most recent consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
While revenue growth fell last quarter from 47% to 28%, EPS grew 64%, up from 0% in the previous report.
Olin stock earns the No. 3 rank among its peers in the Chemicals-Specialty industry group. Ashland Global and Valhi are among the top 5 highly rated stocks within the group.
