DoorDash saw a return rise to its Relative Strength (RS) Rating on Wednesday, with another upgrade from 79 to 86. It was at 82 for last Monday's open, only to fall with the market on that day. So far today it is holding its own against a down day.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's unique rating identifies share price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the best stocks typically have an 80 or higher RS Rating as they launch their biggest climbs.
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DoorDash is still within a buying range after breaking past a 65.24 entry in a cup with handle. The proper buying range is up to 5% above the initial entry. Once a stock hits that benchmark, it's best to wait for it to set up another buying opportunity. In this case the stock price as of this writing is 2% above the entry point.
The company showed 0% EPS growth last quarter, while sales growth came in at 40%.
The company holds the No. 13 rank among its peers in the Retail-Internet industry group. Liquidity Services and PDD Holdings ADR are also among the group's highest-rated stocks.
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