On Friday, Caesars Entertainment stock hit an important technical milestone, with its Relative Strength (RS) Rating rising into the 80-plus percentile with an upgrade to 83, up from 74 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the best stocks tend to have an RS Rating north of 80 as they launch their biggest climbs.
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Is Caesars Entertainment Stock A Buy?
Caesars Entertainment stock is trying to complete a consolidation with a 56.85 entry. See if it can break out in heavy volume. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The casino operator reported 0% earnings growth in the latest quarterly report, while sales growth came in at 9%.
Caesars Entertainment holds the No. 14 rank among its peers in the Leisure-Gaming/Equipment industry group. Monarch Casino & Resort and Boyd Gaming are also among the group's highest-rated stocks.
