IBD Rating Upgrades: Fomento Economico Mexicano Flashes Improved Technical Strength
Fomento Economico Mexicano had its Relative Strength (RS) Rating upgraded from 68 to 75 Monday -- a welcome improvement, but still short of the 80 or higher score you prefer to see.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary rating identifies share price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
History shows that the best stocks often have an 80 or higher RS Rating in the early stages of their moves. See if Fomento Economico Mexicano can continue to rebound and clear that threshold.
Fomento Economico Mexicano is working on a flat base with an 89.45 buy point. See if it can clear the breakout price in volume at least 40% higher than normal.
In terms of fundamentals, the company has posted rising EPS growth in each of the last two reports. Top line growth has also increased during the same period.
Fomento Economico Mexicano holds the No. 7 rank among its peers in the Beverages-Non-Alcoholic industry group. Celsius Holdings and Monster Beverage are also among the group's highest-rated stocks.