Gamestop Corp had its Relative Strength (RS) Rating upgraded from 81 to 91 Tuesday. Last week it entered the 80+ percentile. This week it continues that move up.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This proprietary rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against the rest of the market.
Decades of market research reveals that the stocks that go on to make the biggest gains tend to have an 80 or better RS Rating as they launch their biggest price moves.
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Gamestop Corp stock is currently out of a traditional buy range. Look for the stock to create a new chance to pick up shares like as it tries to clear the 200-day moving average and goes on to form a CANSLIM pattern.
Earnings Update
While the company's bottom line growth dropped in the company's most recently reported quarter from 0% to -362%, sales grew 8%, up from 6% in the prior report.
The company holds the No. 1 rank among its peers in the Retail-Consumer Electronics industry group. Best Buy and are also among the group's highest-rated stocks.
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