Shoe Carnival saw a positive improvement to its Relative Strength (RS) Rating on Thursday, rising from 69 to 74.
IBD's unique RS Rating measures technical performance by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
History reveals that the market's biggest winners typically have an 80 or higher RS Rating as they launch their largest runs. See if Shoe Carnival can continue to show renewed price strength and clear that threshold.
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While Shoe Carnival is not near an ideal entry right now, see if it goes on to form and break out of a proper consolidation.
In terms of fundamentals, Shoe Carnival has posted three quarters of increasing earnings growth. Revenue growth has also risen over the same time frame. Shoe Carnival is expected to release its next quarterly numbers on or around Nov. 13.
Shoe Carnival holds the No. 6 rank among its peers in the Retail-Apparel/Shoes/Accessories industry group. Burlington Stores, Abercrombie & Fitch and TJX Cos are among the top 5 highly rated stocks within the group.
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