When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Futu Holdings stock, which had its Relative Strength (RS) Rating upgraded from 78 to 83 Thursday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
Over 100 years of market history shows that the top-performing stocks typically have an RS Rating north of 80 as they begin their biggest price moves.
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Is Futu Holdings Stock A Buy?
The IBD 50 stock is not currently near a potential buying area. See if the Futu Holdings stock goes on to build a base that could kick off a new price move.
In terms of top and bottom line numbers, Futu Holdings has posted rising EPS growth over the last four quarters. Revenue gains have also risen during the same period. The online brokerage platform firm is expected to release its next quarterly numbers on or around Aug. 24.
Futu Holdings stock holds the No. 1 rank among its peers in the Finance-Investment Banking/Brokers industry group.
