One important metric to look for in a stock is an 80 or higher Relative Strength Rating. PDD Holdings stock just hit that mark, with a jump from 77 to 89 Tuesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating identifies market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matches up against the rest of the market.
Decades of market research reveals that the market's biggest winners typically have an RS Rating of above 80 as they begin their biggest price moves.
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Is PDD Holdings Stock A Buy?
Since hitting a 52-week high of 106.38 on Jan. 27, PDD Holdings stock has pulled back and trading in a consolidation. See if this Chinese stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The Chinese online retailer saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 30% to 115%. Revenue rose from 35% to 46%. Keep an eye out for the company's next round of numbers on or around Aug. 24.
PDD Holdings stock holds the No. 3 rank among its peers in the Retail-Internet industry group. PDD Holdings and Vipshop Holdings are also among the group's highest-rated stocks. For more industry news, check out "Retail Industry News And Stocks To Watch."
