Pinduoduo stock had its Relative Strength (RS) Rating upgraded from 69 to 76 Wednesday -- a welcome improvement, but still below the 80 or better score you prefer to see.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
This proprietary rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the best-performing stocks often have an RS Rating of over 80 in the early stages of their moves. See if Pinduoduo can continue to rebound and clear that threshold.
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Is Pinduoduo Stock A Buy?
Pinduoduo stock recently dipped below its 200-moving average amid the market correction. While the stock is not near a proper buy zone right now, see if it manages to form and break out from a proper chart pattern. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Top and bottom line growth moved higher last quarter. Earnings were up 304%, compared to 0% in the prior report. Revenue increased from 5% to 11%.
Pinduoduo stock earns the No. 1 rank among its peers in the Retail-Internet industry group. For more industry news, check out "Retail Industry News And Stocks To Watch."
