With the stock market rally looking more positive, investors will be on the lookout for top stocks. Top athleisure names Nike (NKE), Lululemon Athletica (LULU), Foot Locker (FL) are all flashing bullish signs as they consolidate. Nike stock boasts an IBD Composite Rating of 97 out of a best-possible 99. So does Lululemon stock. Foot Locker has a good-but-not great Composite Rating of 86.
Nike Stock
The sportswear giant's stock punched through its 50-day and 200-day moving averages intraday Friday. Shares rose 2.6% to 74.65 on the stock market, closing above the 50-day line but just below the 200 day.
MarketSmith analysis shows Nike stock has an 86.14 buy point, but it's only starting to build the right side of a base. The relative strength line, which tracks a stock's performance vs. the S&P 500 index, is holding right at highs.
Nike stock surged in 2018, and ended up running up 18.5%, even after falling from its Sep. 21 all-time high of 86.04. Back in June the Dow Jones stock turned a corner after easily topping views, with North American sales bucking three straight quarters of declines by ticking up 3%.
Lululemon Stock
The leading athleisure firm also managed to pierce both its 50-day and 200-day lines intraday Friday. Shares rose 3.4% to 128.55 on Friday, reclaiming its 200-day line but settling under its 50-day.
Lululemon stock managed to hold reasonably firm amid a broad stock market correction. On Dec. 7, Lululemon stock plunged 13%. Lululemon earnings topped views modestly but ended a string of blowout, accelerating growth reports. Holiday guidance was just OK.
But after that, Lululemon stock moved sideways or turned higher, with its relative strength line trending upward through most of December.
Cowen managing director John Kernan recently hailed the high-end yogawear maker and retailer, noting its "fantastic" direct-to-consumer offerings and calling it a big winner in the digital space. IBD research also shows that Lululemon stock is worth watching. The IBD Stock Checkup tool shows it has a solid Relative Strength Rating of 93, which reflects superior price performance.
Foot Locker Stock
Foot Locker stock rose 2.7% to 54.88 Friday, closing in on a buy point of 57.42 from a cup with handle base, one of the most successful chart patterns. The RS line has been trending upward since mid-September.
While its 86 Composite Rating is not ideal, Foot Locker stock does have other positive qualities. Its Relative Strength Rating is a healthy 93. Its Accumulation/Distribution Rating, which reflects demand among institutional buyers, is a healthy B-.
YOU WILL ALSO LIKE:
This Is The Top Dow Stock Of 2018 — And It's Not Even Close
IBD Stock Of The Day O'Reilly Auto Parts Flashes 2 Bullish Signals, Nears Buy Point
Stock Market Forecast For 2019: Seven Key Trends
Which Companies Are Now Outperforming 95% Of All Stocks?
The post As Market Runs, Top Stocks Nike, Lululemon, Foot Locker Get In Shape appeared first on Investor's Business Daily.
http://feedproxy.google.com/~r/BusinessRss/~3/D5kIxZaxyHg/
No comments:
Post a Comment