On Wednesday, Shake Shack stock got a positive adjustment to its Relative Strength (RS) Rating, from 79 to 83.
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 other stocks on the major indexes.
Over 100 years of market history shows that the best-performing stocks tend to have an RS Rating of over 80 in the early stages of their moves.
Looking For Winning Stocks? Try This Simple Routine
Is Shake Shack Stock A Buy?
Shake Shack stock is building a cup with handle with a 76.74 buy point. See if the smash burger specialist can clear the breakout price in volume at least 40% above average.
Earnings growth dropped last quarter from 1,700% to 0%. But revenue gains moved higher, from 18% to 21%. The company is expected to report its latest performance numbers on or around Feb. 15.
Shake Shack stock earns the No. 7 rank among its peers in the Retail-Restaurants industry group. Chipotle Mexican Grill and Wingstop are also among the group's highest-rated stocks. For more industry news, check out "Retail Industry News And Stocks To Watch."
