Matson had its Relative Strength (RS) Rating upgraded from 79 to 83 Tuesday.
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 in the early stages of their moves.
Looking For The Best Stocks To Buy And Watch? Start Here
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 top and bottom line numbers, Matson has posted six quarters of rising earnings growth. Sales growth has also moved higher over the same time frame.
The company earns the No. 1 rank among its peers in the Transportation-Ship industry group. ZIM Integrated Shipping and PTL are also among the group's highest-rated stocks.
RELATED:
Which Stocks Are Showing Rising Relative Strength?
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
