On Friday, CleanSpark reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 66 the day before.
IBD's proprietary rating identifies price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the best stocks tend to have an RS Rating of above 80 as they launch their biggest runs.
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CleanSpark has climbed more than 5% past a 5.16 entry in a second-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
CleanSpark reported 0% earnings growth in its most recent report, while sales growth came in at 129%. Keep an eye out for the company's next round of numbers on or around Dec. 18.
The company holds the No. 46 rank among its peers in the Financial Services-Specialty industry group. Marex Group, Sezzle and Tradeweb Markets are among the top 5 highly rated stocks within the group.
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