Kraft Heinz saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, with an upgrade from 66 to 72. This is after it round-tripped gains from a recent breakout.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
This proprietary rating tracks market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research shows that the best-performing stocks typically have an RS Rating north of 80 in the early stages of their moves. See if Kraft Heinz can continue to rebound and hit that benchmark.
Looking For Winning Stocks? Try This Simple Routine
Kraft Heinz broke out earlier, but is now trading around 3% below the prior 40.73 entry from a cup with handle. If a stock you're tracking clears a buy point then falls 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new base and entry price. Also understand that the latest consolidation is a later-stage base, and such bases are more prone to failure.
Earnings Report
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -10% to -3%. Revenue rose from -1% to 3%. The company is expected to report its latest results on or around Feb. 15.
Kraft Heinz earns the No. 19 rank among its peers in the Food-Packaged industry group. Seneca Foods Cl A is also among the group's highest-rated stocks.
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