One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Nomad Foods stock now clears that threshold, with a jump from 63 to 81 Tuesday.
IBD's proprietary rating measures price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
History shows that the best stocks often have an 80 or higher RS Rating in the early stages of their moves.
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Is Nomad Foods Stock A Buy?
Nomad Foods stock is trading within a buying range after clearing a 20.05 buy point in a consolidation. The proper buying range extends to 5% above the initial entry. Once a stock moves above that range, it's best to hold off investing and wait for it to set up another buying opportunity.
The U.K.-based frozen food company posted 23% EPS growth in the latest quarterly report, while sales growth came in at -2%.
Nomad Foods stock earns the No. 1 rank among its peers in the Food-Packaged industry group. Nomad Foods and Seneca Foods Cl A are also among the group's highest-rated stocks.
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.
