On Wednesday, Pinterest stock received an upgrade to its Relative Strength (RS) Rating, from 80 to 84.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
Decades of market research shows that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 in the early stages of their moves.
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Is Pinterest Stock A Buy?
Pinterest stock is in a buy zone after clearing a 29.27 entry in a consolidation. The proper buying range is up to 5% above the initial entry. Once a stock hits that benchmark, it's best to hold off investing and wait for it to set up another buying opportunity.
The online content provider saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -41% to -20%. Revenue rose from 4% to 5%. The next quarterly results are expected on or around Jul. 27.
Pinterest holds the No. 14 rank among its peers in the Internet-Content industry group. Opera ADR and Weave Communications are also among the group's highest-rated stocks.
