On Friday, NextNav cleared an important technical benchmark, with its Relative Strength (RS) Rating rising into the 90-plus percentile with an upgrade to 96, a rise from 89 the day before.
This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the market's biggest winners tend to have an 80 or better RS Rating as they begin their biggest runs.
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NextNav has climbed more than 5% past a 9.50 entry in a second-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
NextNav reported 0% EPS growth in the latest quarterly report, while sales growth came in at 58%.
NextNav holds the No. 6 rank among its peers in the Consumer Products-Electronics industry group. Garmin, NextNav and Turtle Beach are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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