The Relative Strength (RS) Rating for Cal-Maine Foods stock entered a higher percentile Wednesday, as it got a lift from 65 to 72. The egg producer said it will buy a processing plant previously owned by Tyson in Dexter, Missouri. Cal-Maine plans to convert the plan to a egg grading facility.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique RS Rating tracks market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
History shows that the market's biggest winners often have an RS Rating of over 80 in the early stages of their moves. See if Cal-Maine Foods stock can continue to rebound and hit that benchmark.
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Is Cal-Maine Foods Stock A Buy?
Cal-Maine Foods stock is working on a cup without handle with a 62.68 buy point. See if it can break out in volume at least 40% higher than normal.
The egg producer posted negative growth for both sales and earnings last quarter. The company is expected to release its next quarterly numbers on or around Jan. 3.
Cal-Maine Foods stock earns the No. 4 rank among its peers in the Food-Meat Products industry group. Pilgrim's Pride and Cal-Maine Foods are also among the group's highest-rated stocks.
