On Monday, Ouster stock earned a positive adjustment to its Relative Strength (RS) Rating, from 80 to 95.
IBD's proprietary RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against the rest of the market.
History shows that the market's biggest winners often have an RS Rating of above 80 at the beginning of a new price run.
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Is Ouster Stock A Buy?
Ouster stock reclaimed its 50-day moving average last week, but it's not currently showing a potential buy point. See if the automotive stock goes on to build a base that could kick off a new price move. This is not the time to buy stocks during a market correction, but build a watchlist of possible emerging leaders once the market trend turns around.
The provider of high-performance lidar sensors and solutions company posted 0% earnings growth last quarter. Sales rose 23%.
Ouster stock earns the No. 7 rank among its peers in the Auto/Truck-Original Equipment industry group. Hesai Group ADR, Strattec Security and Atmus Filtration Techs 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.
