On Wednesday, Fresh Del Monte Produce cleared an important performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 81, up from 77 the day before.
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This exclusive rating from Investor's Business Daily tracks share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the best-performing stocks tend to have an RS Rating north of 80 as they begin their biggest price moves.
Fresh Del Monte Produce is within a buying range after clearing a 35.69 buy point in a flat base. The proper buying range extends to 5% above the initial entry. Once a stock hits that benchmark, it's best to wait for it to set up another buying opportunity.
Earnings growth declined last quarter from 91% to 16%. But revenue gains moved higher, from -1% to 4%.
Fresh Del Monte Produce earns the No. 2 rank among its peers in the Food-Miscellaneous Preparation industry group. Chefs' Warehouse is the top-ranked stock 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.
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