Kontoor Brands saw a welcome improvement to its Relative Strength (RS) Rating on Friday, rising from 65 to 74.
When looking for the best stocks to buy and watch, be sure to pay attention to 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.
Over 100 years of market history reveals that the market's biggest winners often have an RS Rating of at least 80 as they begin their largest climbs. See if Kontoor Brands can continue to rebound and clear that threshold.
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Kontoor Brands is now considered extended and out of buy range after clearing a 46.99 buy point in a first-stage double bottom. See if the stock forms a new chart pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Earnings growth slowed in the most recent quarter from 430% to 418%. But revenue moved higher, from 29% to 41%. The next quarterly numbers are expected on or around Oct. 29.
Kontoor Brands holds the No. 9 rank among its peers in the Apparel-Clothing Manufacturing industry group. Oxford Industries and Gildan Activewear are also among the group's highest-rated stocks.
