The Relative Strength (RS) Rating for CarGurus Cl A stock entered a new percentile Monday, with an increase from 63 to 80.
This unique rating measures 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.
Decades of market research reveals that the best stocks tend to have an 80 or better RS Rating in the early stages of their moves.
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Is CarGurus Stock A Buy?
CarGurus stock broke out earlier, but is now trading approximately 3% below the prior 24.64 entry from a flat base. If a stock you're tracking climbs above a buy point then declines 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new base and breakout. Also understand that the latest consolidation is a later-stage base, and such bases are more prone to failure.
While the automotive platform's bottom line growth dropped in the company's most recent performance report from 59% to 23%, the top line rose -7%, up from -22% in the prior report.
CarGurus stock holds the No. 11 rank among its peers in the Internet-Content industry group. Kanzhun ADR, Pinterest and SEMrush Holdings are among the top 5 highly rated stocks within the group.
