On Tuesday, Kellanova stock reached an important technical milestone, with its Relative Strength (RS) Rating rising into the 90-plus percentile with an upgrade to 93, up from 71 the day before.
IBD's proprietary RS Rating identifies technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains tend to have an 80 or better RS Rating as they begin their biggest runs.
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Is Kellanova Stock A Buy?
Kellanova stock has risen more than 5% past a 63.23 entry in a first-stage cup without handle, meaning it's now extended and out of a proper buy zone. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The snack and convenience food company reported 12% earnings growth last quarter. Sales gains came in at -5%.
Kellanova stock holds the No. 1 rank among its peers in the Food-Packaged industry group. Campbell Soup and Post Holdings are also among the group's highest-rated stocks.
