When putting together your watch list, focus on stocks with an 80 or higher RS Rating. Futu Holdings stock just met that criteria with a new score of 86.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matches up against the rest of the market.
Over 100 years of market history shows that the best stocks often have an RS Rating north of 80 as they begin their biggest climbs.
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Is Futu Holdings Stock A Buy?
The IBD Sector Leaders stock has climbed more than 5% past a 41.09 entry in a second-stage cup without handle, 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 line.
In terms of fundamentals, the digital brokerage and wealth management platform firm has posted rising EPS growth in each of the last three reports. Sales gains have also increased during the same period.
Futu Holdings stock holds the No. 1 rank among its peers in the Finance-Investment Banking/Brokers industry group.
