When putting together your watch list, focus on stocks with an 80 or higher RS Rating. Portillo's stock now meets that criteria, with an increase from 76 to 84 Thursday.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research shows that the market's biggest winners typically have an RS Rating of at least 80 in the early stages of their moves.
See How IBD Helps You Make More Money In Stocks
Is Portillo's Stock A Buy?
Portillo's stock fell Thursday after mixed Q1 earnings results. Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to form a chart pattern and break out.
The fast casual restaurant chain saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -56% to 0%. Revenue rose from 9% to 16%.
Portillo's stock holds the No. 22 rank among its peers in the Retail-Restaurants industry group. Potbelly Corp. and Texas Roadhouse are also among the group's highest-rated stocks. For more industry news, check out "Retail Industry News And Stocks To Watch."
