On Friday, Matson hit an important technical milestone, with its Relative Strength (RS) Rating climbing into the 90-plus percentile with an upgrade to 92, an increase from 81 the day before.
IBD's unique rating measures price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the best-performing stocks tend to have an RS Rating north of 80 as they begin their largest runs.
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Matson is now considered extended and out of buy range after clearing a 122.99 buy point in a second-stage consolidation. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
In terms of revenue and profits, the company has posted six quarters of accelerating earnings growth. Revenue growth has also increased over the same time frame.
Matson holds the No. 1 rank among its peers in the Transportation-Ship industry group. Costamare and Euroseas are also among the group's highest-rated stocks.
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