Cal-Maine Foods saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, with an increase from 78 to 81.
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IBD's unique RS Rating measures technical performance by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
Over 100 years of market history reveals that the top-performing stocks typically have an 80 or higher RS Rating as they begin their biggest price moves.
Cal-Maine Foods is now considered extended and out of buy range after clearing a 104.49 buy point in a second-stage cup with handle. 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 moving average.
The company posted 203% EPS growth in its most recent report. Sales increased 72%.
The company holds the No. 1 rank among its peers in the Food-Meat Products industry group. Smithfield Foods and Pilgrim's Pride are also among the group's highest-rated stocks.
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.
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