Hibbett stock saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, rising from 83 to 91.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against all other stocks in our database.
Decades of market research shows that the best-performing stocks tend to have an RS Rating of above 80 at the beginning of a new run.
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Is Hibbett Stock A Buy?
Hibbett stock has risen more than 5% past a 61.38 entry in a second-stage cup with handle, meaning it's extended and 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 moving average. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
In terms of fundamentals, the city gear retailer has posted rising EPS growth in each of the last two reports. Top line growth has also moved higher during the same period.
Hibbett stock earns the No. 5 rank among its peers in the Retail-Leisure Products industry group. Academy Sports & Outdoors and Winmark are among the top 5 highly rated stocks within the group.
