On Tuesday, Roku Cl A cleared a noteworthy technical benchmark, with its Relative Strength (RS) Rating climbing into the 90-plus percentile with an improvement to 94, an increase from 86 the day before.
This proprietary rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matches up against all other stocks in our database.
Decades of market research reveals that the market's biggest winners often have an RS Rating of above 80 in the early stages of their moves.
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Roku Cl A has risen more than 5% past an 86.75 entry in a first-stage consolidation, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company showed 0% EPS growth in the latest quarterly report, while sales growth came in at 22%.
Roku Cl A holds the No. 2 rank among its peers in the Leisure-Movies & Related industry group. Netflix is the No. 1-ranked stock within the group.
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