On Wednesday, Robinhood Markets cleared a key technical benchmark. Its Relative Strength (RS) Rating moved into the 90-plus percentile with an upgrade to 92, an increase from 88 the day before. IBD markets writer, Aparna Narayanan, wrote about the reason for the stock's recent breakout.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength. This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners tend to have an RS Rating north of 80 as they begin their biggest runs.
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Robinhood Markets is now considered extended and out of buy range after clearing an 11.37 buy point in a first-stage double bottom. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
HOOD Earnings
Robinhood Markets posted 0% earnings growth in the latest quarterly report. Revenue increased 29%.
The company holds the No. 5 rank among its peers in the Finance-Investment Banking/Brokers industry group.
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