Boot Barn stock saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, rising from 70 to 80.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research reveals that the best stocks often have an RS Rating of over 80 as they begin their biggest price moves.
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Is Boot Barn Stock A Buy?
Boot Barn stock is currently trading below its 50- and 200-day moving average. While now is not an ideal time to invest, see if the stock is able to establish and enter a buy zone in heavy volume. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The boot and western-apparel retailer posted 125% earnings growth last quarter. Sales increased 61%.
Boot Barn stock holds the No. 1 rank among its peers in the Retail-Apparel/Shoes/Accessories industry group.
