Investor’s Business Daily has recently updated the Relative Strength Rating of Vista Outdoor (VSTO) stock, which saw an improvement from 69 to 74 on Friday. This positive development is worth keeping an eye on when looking for the best stocks to buy and watch.
When it comes to finding promising investment opportunities, relative price strength is a crucial factor to consider. The exclusive rating tracks share price movement with a score ranging from 1 (worst) to 99 (best), showing how a stock’s price behavior over the past 52 weeks compares to other stocks in the database. History has shown that stocks with higher RS Ratings tend to make bigger gains.
Despite breaking out earlier, Vista Outdoor stock fell back below its prior entry price of 30.55 after clearing a buy point. If a stock fails to clear its buy point and declines more than 7% below the original entry price, it is considered a failed base. It’s important to note that this latest pattern is a later-stage base, making it riskier for investors to establish new positions or add shares to existing ones.
In terms of earnings and sales growth, Vista Outdoor’s latest report showed -37% and -10%, respectively, but this marked two straight quarters of improvement for both metrics. Despite these challenges, Vista Outdoor stock holds the No. 2 rank among its peers in the Leisure-Products industry group, alongside YETI Holdings (YETI). These high ratings make them among the group’s top-performing stocks.
Overall, Vista Outdoor’s improved RS Rating makes it an interesting option for investors looking for promising investment opportunities in the Leisure-Products industry group.