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Nomad Foods Scores Relative Strength Rating Upgrade

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On Friday, Nomad Foods ( NOMD ) hit an important technical milestone, with its Relative Strength ( RS ) Rating rising into the 90-plus percentile with an improvement to 91, a rise from 88 the day before.

[ibd-display-video id=2368044 width=50 float=left autostart=true] IBD's proprietary rating measures price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.

Over 100 years of market history shows that the market's biggest winners tend to have an RS Rating north of 80 in the early stages of their moves.

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Nomad Foods has risen more than 5% past a 15.59 entry in a third-stage flat base , meaning it's now out of a proper buy zone. Look for the stock to create a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.

EPS growth fell in the company's latest report from 24% to 12%, but revenue rose from 3% to 10%.

Nomad Foods earns the No. 7 rank among its peers in the Food-Packaged industry group. Blue Buffalo Pet Products ( BUFF ), Snyders-Lance ( LNCE ) and Amplify Snack Brands ( BETR ) 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.

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