On Tuesday, Albertsons stock hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 91, up from 88 the day before.
Here Are 3 Keys For Successful Stock Investing
This proprietary rating identifies technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history shows that the best-performing stocks typically have an 80 or higher RS Rating as they begin their largest runs.
Is Albertsons Stock A Buy?
Albertsons stock has been trading above its 50- and 200-day moving average, a good sign in this bearish stock market environment. While the stock is not near an ideal buy zone right now, this consumer staples name belongs on your watchlist.
While the company's bottom line growth dropped last quarter from -10% to -15%, the top line grew 3%, up from 1% in the prior report.
Albertsons stock earns the No. 8 rank among its peers in the Retail-Super/Mini Markets industry group. Sprouts Farmers Market, Casey's General Stores and Natural Grocers are among the top 5 highly rated stocks within the group.
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.
