Following up on my colleague Julie Mak's post from yesterday, the Relative Strength (RS) Rating for Gamestop Corp entered a new percentile group Tuesday, with an increase from 74 to 81.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating measures technical performance by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
Decades of market research reveals that the stocks that go on to make the biggest gains typically have an RS Rating of over 80 in the early stages of their moves.
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Gamestop Corp is still not yet in a buy zone. 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 line, as it has now cleared all key moving averages.
Earnings growth fell in the company's most recent report from 0% to -362%, but the top line rose from 6% to 8%.
The company holds the No. 2 rank among its peers in the Retail-Consumer Electronics industry group.
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