Pilgrim's Pride had its Relative Strength (RS) Rating upgraded from 89 to 92 Monday.
This unique rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against the rest of the market.
Decades of market research shows that the best stocks typically have an 80 or higher RS Rating in the early stages of their moves.
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Pilgrim's Pride broke out earlier, but has fallen back below the prior 55.50 entry from a consolidation. In the scenario 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 pattern to form. Also keep in mind 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.
The company showed 129% earnings growth last quarter. Sales rose -3%.
The company holds the No. 3 rank among its peers in the Food-Meat Products industry group. Cal-Maine Foods is the top-ranked stock within the group.
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