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, which saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, with an increase from 89 to 92. With today's current inflationary economy, discount outlets are top of mind.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This unique rating measures market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the best-performing stocks typically have an 80 or higher RS Rating in the early stages of their moves.
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Ollie's Bargain Outlet is trying to complete a consolidation with a 72.37 entry. See if the stock can clear the breakout price in volume at least 40% above average. Earnings are behind the stock currently as the next report is not until early December.
Earnings Report
Top and bottom line growth moved higher last quarter. Earnings were up -58%, compared to -75% in the prior report. Revenue increased from -10% to 9%.
The company earns the No. 5 rank among its peers in the Retail-Discount & Variety industry group. BJs Whlsl hldgs and Dollar Tree are among the top 5 highly rated stocks within the group.
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