On Monday, Kura Sushi USA hit an important technical milestone, with its Relative Strength (RS) Rating entering into the 80-plus percentile with an improvement to 84, an increase from 78 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 action over the trailing 52 weeks matches up against the rest of the market.
Over 100 years of market history reveals that the market's biggest winners typically have an RS Rating north of 80 as they begin their biggest runs.
Kura Sushi USA is now considered extended and out of buy range after clearing a 52.97 buy point in a third-stage double bottom. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company reported 0% earnings growth in the latest quarterly report. Sales gains came in at 17%.
Kura Sushi USA holds the No. 26 rank among its peers in the Retail-Restaurants industry group. Brinker International, Shake Shack Cl A and Dutch Bros 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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