Ollie's Bargain Outlet had its Relative Strength (RS) Rating upgraded from 88 to 92 Tuesday.
This unique rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against all other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 as they begin their largest runs.
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Ollie's Bargain Outlet broke out earlier, but has fallen back below the prior 115.42 entry from a double bottom. In the case 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 base to take shape. Also keep in mind that the latest pattern is a later-stage base, and such bases are more prone to failure.
The company showed -3% EPS growth in the latest quarterly report, while sales growth came in at 3%.
Ollie's Bargain Outlet earns the No. 2 rank among its peers in the Retail-Discount & Variety industry group. BJ's Wholesale Club is the top-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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