Airbnb saw a positive improvement to its Relative Strength (RS) Rating on Wednesday, with an upgrade from 79 to 83.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This proprietary rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks matches up against that of all other stocks.
Decades of market research shows that the best-performing stocks often have an RS Rating of over 80 as they launch their biggest runs.
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While Airbnb is not near a proper entry right now, see if it manages to form and break out from a new base, having failed to hold gains from the previous cup with handle base.
Earnings growth rose last quarter from 47% to 500%. But revenue gains fell from 29% to 24%. The company is expected to report its latest results on or around May 11.
Airbnb earns the No. 2 rank among its peers in the Leisure-Travel Booking industry group. Trip.com Group ADR also among the group's highest-rated stocks.
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