MercadoLibre stock had its Relative Strength (RS) Rating upgraded from 79 to 86 Friday.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's proprietary rating measures price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of above 80 as they launch their biggest climbs.
Looking For The Best Stocks To Buy And Watch? Start Here
Is MercadoLibre Stock A Buy?
MercadoLibre stock recently dipped below its 200-day moving average again and is not near a proper buy point right now, see if it manages to form and break out from a proper chart pattern.
Earnings growth rose in the company's latest report from 0% to 77%, but revenue fell from 63% to 52%.
MercadoLibre stock holds the No. 3 rank among its peers in the Retail-Internet industry group. Vipshop and MercadoLibre are also among the group's highest-rated stocks. For more industry news, check out "Retail Industry News And Stocks To Watch."
