The Relative Strength (RS) Rating for Peloton Interactive climbed into a new percentile Friday, with a rise from 79 to 85. This former high-flyer has a lot of peddling to do before it gets back into decent shape.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating identifies technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
Decades of market research shows that the market's biggest winners often have an 80 or better RS Rating as they begin their biggest price moves.
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While the stock is not near a proper buying range right now, as it has traded flat for quite some time. It might be best to see if it manages to form and break out of a proper base.
The company showed 0% EPS growth last quarter. Sales gains came in at -30%.
Peloton stock holds the No. 30 rank among its peers in the Leisure-Services industry group. Xponential Fitness and Life Time Group Holdings are also among the group's highest-rated stocks.
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