The Relative Strength (RS) Rating for Ollie's Bargain Outlet entered a new percentile Wednesday, with an increase from 80 to 83. Are discount retailers going to be beneficiaries of the current higher inflation?
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This proprietary rating measures 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.
Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an 80 or higher RS Rating as they launch their biggest runs.
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Ollie's Bargain Outlet is building a cup without handle with a 72.37 entry. The stock is currently about 15% below the pivot point. See if it can build on the right side of the current pattern and then clear the breakout price in volume at least 40% higher than normal.
Earnings Review
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 9% to 22%. Revenue rose from 9% to 10%.
Ollie's Bargain Outlet earns the No. 4 rank among its peers in the Retail-Discount & Variety industry group. BJ's Wholesale Club and Five Below are also among the group's highest-rated stocks.
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