Credit: Shutterstock photoIn a welcome move, Gildan Activewear ( GIL ) saw its Relative Strength Rating rise from 66 to 71 on Friday.
[ibd-display-video id=2881825 width=50 float=left autostart=true] IBD's proprietary rating measures share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks typically have an 80 or better RS Rating in the early stages of their moves. See if Gildan Activewear can continue to show renewed price strength and hit that benchmark.
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Gildan Activewear broke out earlier, but has fallen back below the prior 32.25 entry from a flat base . If a stock you're watching climbs above a buy point then retreats 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 base and breakout. Also keep in mind that the most recent consolidation is a later-stage base, and those involve more risk.
The company reported 6% EPS growth last quarter. Revenue gains came in at 0%.
The company earns the No. 8 rank among its peers in the Apparel-Clothing Manufacturing industry group. Canada Goose ( GOOS ), Carters ( CRI ) and Michael Kors ( KORS ) 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
