The Relative Strength (RS) Rating for Cinemark Holdings jumped into a new percentile Tuesday, with an increase from 68 to 87.
IBD's unique rating identifies share price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an 80 or better RS Rating in the early stages of their moves.
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Cinemark Holdings is now considered extended and out of buy range after clearing a 19.31 buy point in a first-stage double bottom. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
While the company's bottom line growth dropped in the company's most recently reported quarter from 95% to 0%, sales rose 27%, up from 5% in the previous report. Look for the next report on or around May 2.
Cinemark Holdings earns the No. 2 rank among its peers in the Leisure-Movies & Related industry group. Netflix is the top-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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