Shoe Carnival saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an upgrade from 65 to 71.
This proprietary rating identifies technical performance 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 reveals that the stocks that go on to make the biggest gains often have an RS Rating of over 80 in the early stages of their moves. See if Shoe Carnival can continue to show renewed price strength and clear that threshold.
When To Sell Stocks To Lock In Profits And Minimize Losses
While now is not an ideal time to buy shares, see if the stock manages to form a chart pattern and break out.
In terms of fundamentals, Shoe Carnival has posted three quarters of accelerating earnings growth. Revenue gains have also moved higher during the same period. The company is expected to release its next quarterly numbers on or around Nov. 13.
Shoe Carnival earns the No. 8 rank among its peers in the Retail-Apparel/Shoes/Accessories industry group. Abercrombie & Fitch, Burlington Stores and Boot Barn Holdings are among the top 5 highly rated stocks within the group.
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