On Friday, Albertsons reached an important performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 76 the day before.
This proprietary rating identifies technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against that of all other stocks.
Over 100 years of market history shows that the best-performing stocks typically have an RS Rating north of 80 as they begin their biggest runs.
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Albertsons is building a cup with handle with a 21.67 buy point. See if the stock can break out in volume at least 40% above average.
Albertsons showed -10% EPS growth last quarter, while sales growth came in at 1%.
Albertsons earns the No. 7 rank among its peers in the Retail-Super/Mini Markets industry group. Sprouts Farmers Market, Village Super Market A and Natural Grocers are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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