Chipotle Mexican Grill stock had its Relative Strength (RS) Rating upgraded from 78 to 83 Thursday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This proprietary rating measures market leadership by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
History reveals that the stocks that go on to make the biggest gains tend to have an 80 or higher RS Rating in the early stages of their moves.
See How IBD Helps You Make More Money In Stocks
Is Chipotle Mexican Grill Stock A Buy?
Chipotle Mexican Grill stock has a failed breakout but it's still trading within the cup-with-handle base pattern. While the stock is not near an ideal buying range right now, see if it manages to form and break out of a proper consolidation.
The fast casual restaurant chain saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 6% to 25%. Revenue rose from 16% to 17%. The company is expected to report its latest performance numbers on or around Oct. 21.
Chipotle Mexican Grill stock holds the No. 3 rank among its peers in the Retail-Restaurants industry group. Ark Restaurants and Kura Sushi USA are also among the group's highest-rated stocks. For more industry news, check out "Retail Industry News And Stocks To Watch."
