On Thursday, Peloton Interactive hit a key performance benchmark, with its Relative Strength (RS) Rating rising into the 90-plus percentile with an improvement to 94, up from 71 the day before. Can this former leader return to glory?
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This unique rating tracks market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history shows that the top-performing stocks often have an RS Rating of over 80 at the beginning of a new run.
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Peloton Interactive has risen more than 5% past a 12.24 entry in a first-stage cup with handle, meaning it's now out of a proper buy zone. Look for the stock to create a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Also remember it has fallen a long way in the past 18 months. There may still be overhead resistance as it tries to recover. Also, see the recent earnings numbers below.
Earnings Report
Peloton Interactive posted 0% earnings growth in its most recent report, while sales growth came in at -30%.
Peloton Interactive earns the No. 28 rank among its peers in the Leisure-Services industry group. Marriott Vacations, Hilton Grand Vacations and Life Time Group Holdings are among the top 5 highly rated stocks within the group.
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