When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Ollie's Bargain Outlet stock, which saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, with an upgrade from 81 to 91.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength. IBD's unique rating identifies price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains tend to have an RS Rating of over 80 at the beginning of a new price run.
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Is Ollie's Bargain Outlet Stock A Buy?
Ollie's Bargain Outlet Stock has been trading in a long flat base. Now is not an ideal time to jump into the discount retailer stock since it isn't near a proper buy zone, but see if the stock manages to form a chart pattern and break out. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 22%, compared to 9% in the prior report. Revenue increased from 9% to 10%.
Ollie's Bargain Outlet stock earns the No. 4 rank among its peers in the Retail-Discount & Variety industry group. MINISO Group Holding ADR and Five Below are among the top 5 highly rated stocks within the group.
