Coconut water provides a variety of benefits including improved hydration and antioxidant properties, according to health officials. On Monday, No. 1 ranked beverage maker Vita Coco's stock got a positive adjustment to its Relative Strength (RS) Rating, from 80 to 83. Highly rated Vita Coco stock shot up 1.7% in afternoon trading.
The rating upgrade pushes Vita Coco stock past a major milestone. Market research shows that the market's biggest winners typically have an RS Rating north of 80 as they launch their biggest climbs. Vita Coco is on that launch pad.
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Vita Coco is building a consolidation with a 40.32 buy point. See if the stock can break out in heavy trading.
While revenue growth fell last quarter from 20% to 17%, earnings-per-share grew 29%, up from -45% in the prior report. Look for the next report on or around Jul. 30.
The company holds the No. 1 rank among its peers in the Beverages-Non-Alcoholic industry group. Embotell Andina A ADR and Coca-Cola Europacific are also among the group's highest-rated stocks.
IBD's proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
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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