On Wednesday, Ollie's Bargain Outlet cleared a noteworthy technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 87, up from 74 the day before.
IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the best stocks tend to have an RS Rating of at least 80 in the early stages of their moves.
Risk Management In The Stock Market: How Much Money To Invest Now
Ollie's Bargain Outlet has risen more than 5% past a 104.98 entry in a second-stage consolidation, meaning it's now out of a proper buy zone. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Ollie's Bargain Outlet showed 14% EPS growth in the latest quarterly report. Revenue gains came in at 8%.
Ollie's Bargain Outlet holds the No. 3 rank among its peers in the Retail-Discount & Variety industry group. MINISO Group Holding ADR is the No. 1-ranked stock within the group.
RELATED:
IBD Stock Rating Upgrades: 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!
