On Thursday, Kontoor Brands reached an important technical milestone, with its Relative Strength (RS) Rating climbing into the 80-plus percentile with an improvement to 84, up from 77 the day before.
This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks matches up against that of all other stocks.
History reveals that the top-performing stocks typically have an 80 or higher RS Rating in the early stages of their moves.
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While the stock is not near an ideal buy zone right now, see if it goes on to form and break out of a proper chart pattern.
Taking a look at top and bottom line numbers, the company has posted two quarters of accelerating earnings growth. Revenue gains have also increased over the same time frame. The company is expected to report its next quarterly numbers on or around Feb. 25.
The company earns the No. 4 rank among its peers in the Apparel-Clothing Manufacturing industry group. Ralph Lauren Cl A is the top-ranked stock within the group.
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