Caleres Gets Relative Strength Rating Upgrade

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Caleres ( CAL ) saw a positive improvement to its Relative Strength ( RS ) Rating on Thursday, with an upgrade from 63 to 71.

[ibd-display-video id=2368044 width=50 float=left autostart=true] This unique rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.

Over 100 years of market history shows that the best-performing stocks typically have an 80 or higher RS Rating as they begin their biggest runs. See if Caleres can continue to show renewed price strength and clear that threshold.

See How IBD Helps You Make More Money In Stocks

Caleres broke out earlier, but is now trading around 5% below the prior 34.02 entry from a cup with handle . If a stock you're tracking climbs above a buy point then falls 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new consolidation and breakout. Also understand that the most recent pattern is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.

The company posted -1% EPS growth in its most recent report, while sales growth came in at 6%.

Caleres holds the No. 12 rank among its peers in the Retail-Apparel/Shoes/Accessories industry group. Boot Barn ( BOOT ), Ross Stores ( ROST ) and Childrens Place ( PLCE ) are among the top 5 highly rated stocks within the group.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
Referenced Symbols: CAL , RS , BOOT , ROST , PLCE

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