On Thursday, Portillo's hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 91, up from 80 the day before.
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the best-performing stocks typically have an RS Rating of above 80 as they begin their largest price moves.
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While the stock is not near an ideal buy point right now, see if it goes on to form and break out from a proper chart pattern.
Portillo's showed 31% earnings growth in the latest quarterly report. Revenue gains came in at -2%. Keep an eye out for the company's next round of numbers on or around May 6.
Portillo's earns the No. 12 rank among its peers in the Retail-Restaurants industry group. Dutch Bros, Brinker International and Cheesecake Factory 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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