[ibd-display-video id=2881825 width=50 float=left autostart=true] This proprietary rating identifies market leadership by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
History shows that the best stocks tend to have an RS Rating of at least 80 in the early stages of their moves.
Michaels is now considered extended and out of buy range after clearing a 24.34 buy point in a first-stage cup without handle . See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company posted 10% EPS growth in the latest quarterly report, while sales growth came in at 1%.
The company holds the No. 4 rank among its peers in the Retail-Specialty industry group. ( EYE ) is the top-ranked stock within the group.