Starbucks stock saw a positive improvement to its Relative Strength (RS) Rating on Monday, rising from 69 to 73. The ubiquitous coffee house announced Monday that it plans to raise wages for its store workers by at least 3% effective Jan. 1, 2024.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matched up against all other stocks.
Decades of market research shows that the market's biggest winners often have an 80 or better RS Rating as they begin their largest climbs. See if Starbucks stock can continue to rebound and hit that benchmark.
Looking For Winning Stocks? Try This Simple Routine
Is Starbucks Stock A Buy?
Starbucks stock is trying to complete a consolidation with a 115.48 buy point. See if the restaurant stock can clear the breakout price in volume at least 40% higher than normal. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Earnings growth rose last quarter from 19% to 31%. But revenue gains fell from 12% to 11%.
Starbucks stock earns the No. 11 rank among its peers in the Retail-Restaurants industry group. Wingstop and Potbelly Corp. are also among the group's highest-rated stocks. For more industry news, check out "Retail Industry News And Stocks To Watch."
