On Friday, Gildan Activewear reached an important technical milestone, with its Relative Strength (RS) Rating rising into the 80-plus percentile with an upgrade to 83, a rise from 78 the day before.
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IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
History reveals that the best-performing stocks tend to have an 80 or better RS Rating as they launch their biggest climbs.
Gildan Activewear is still inside a buy zone after moving past a 50.98 entry in a cup with handle. Once a stock moves 5% or higher beyond the original entry, it's considered out of buy range.
The company posted 0% EPS growth in the latest quarterly report, while sales growth came in at 2%. The company is expected to report its latest numbers on or around Jul. 31.
The company holds the No. 4 rank among its peers in the Apparel-Clothing Manufacturing industry group. Tapestry 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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