On Monday, Hormel Foods got a positive adjustment to its Relative Strength (RS) Rating, from 69 to 72.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the market's biggest winners often have an RS Rating north of 80 in the early stages of their moves. See if Hormel Foods can continue to rebound and clear that threshold.
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Hormel Foods is building a consolidation with a 55.21 entry. After three down days, the stock has started this week on a positive note. See if it continues to move up and break out in volume at least 40% above average.
Hormel Foods reported 3% EPS growth in the latest quarterly report. Revenue rose 6%.
The company earns the No. 4 rank among its peers in the Food-Meat Products industry group. Industrias Bachoco is also among the group's highest-rated stocks.
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