On Thursday, Ollie's Bargain Outlet hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 84, up from 79 the day before.
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IBD's proprietary RS Rating identifies market leadership by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
Over 100 years of market history reveals that the best stocks typically have an RS Rating of over 80 as they begin their biggest runs.
Ollie's Bargain Outlet has climbed more than 5% past a 119.76 entry in a second-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to create a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 3%, compared to -3% in the prior report. Revenue increased from 3% to 13%.
Ollie's Bargain Outlet holds the No. 2 rank among its peers in the Retail-Discount & Variety industry group. Five Below 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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