On Friday, Tapestry got a positive adjustment to its Relative Strength (RS) Rating, from 88 to 94.
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research shows that the top-performing stocks typically have an RS Rating of above 80 at the beginning of a new price run.
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Tapestry has climbed more than 5% past a 44.63 entry in a first-stage double bottom, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.
Top and bottom line growth moved higher last quarter. Earnings were up 10%, compared to -3% in the prior report. Revenue increased from -2% to 0%.
Tapestry earns the No. 1 rank among its peers in the Apparel-Clothing Manufacturing industry group. Tapestry and Kontoor Brands are also among the group's highest-rated stocks.
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