Ready to travel? A lot of people are feeling cabin-fever amid the shelter-at-home situation. That’s good news for airline and hotel reservations giant Booking. Fast growth is still just over the horizon though as people cautiously step out in places where businesses are opening up. On Monday, the Relative Strength (RS) Rating for Booking (BKNG) climbed to 72, up from 68 a day before.
The 72 Relative Strength Rating means Booking Holdings has outperformed 72% of all stocks over the past year.
Research shows that the big winners among stocks tend to have an 80 or better RS Rating in the early stages of their moves. See if Booking can continue to rebound and clear that threshold.
Booking Among Top 5 Travel Companies
Norwalk, Ct.-based Booking traces its roots back to 1997 and the founding of Priceline, known for its name-your-own-price ads featuring William Shatner. After a series of acquisitions, Booking became a global leader in the travel arrangement field. The pandemic hit the company hard though.
One glimmer of hope — its Accumulation/Distribution Rating is C+, which shows that slightly more funds and other institutions are buying it shares than selling.
Regarding its fundamentals, Booking posted negative growth for both sales and earnings last quarter. And in its most recent quarter, it posted a 57 cent loss on revenue of $1.24 billion, down 63% from the same quarter a year ago. Booking is expected to report its next quarterly numbers on or around May 7.
Other Top 5 Travel Companies
Booking is now considered extended and out of buy range after clearing a 1,866.10 buy point in a first-stage double bottom. See if the stock forms a new chart pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor’s Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock’s price behavior over the last 52 weeks compares to all the other stocks in our database.
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