Bread Financial had its Relative Strength (RS) Rating upgraded from 90 to 93 Friday.
IBD's unique rating tracks share price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the market's biggest winners often have an 80 or better RS Rating in the early stages of their moves.
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Bread Financial broke out earlier, but is now around 3% below the prior 59.66 entry from a cup without handle. If a stock you're tracking clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new pattern and breakout. Also keep in mind that the latest pattern is a later-stage base, and such bases are more prone to failure.
The company reported negative growth for both sales and earnings last quarter.
Bread Financial earns the No. 22 rank among its peers in the Finance-Card/Payment Processing industry group. Shift4 Payments, Paymentus Holdings and Toast are among the top 5 highly rated stocks within the group.
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