On Thursday, Dave & Buster's reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 73 the day before.
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This proprietary rating identifies market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
Decades of market research reveals that the best-performing stocks often have an 80 or higher RS Rating as they launch their biggest climbs.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to form a consolidation and break out.
Although earnings and sales growth came in at -32% and -3%, respectively, in the latest report, that marked acceleration for both the top and bottom lines.
Dave & Buster's holds the No. 17 rank among its peers in the Retail-Restaurants industry group. Brinker International, Shake Shack Cl A and Cheesecake Factory are among the top 5 highly rated stocks 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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