Snap stock saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, with an upgrade from 71 to 81.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's proprietary rating tracks share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains often have an 80 or better RS Rating as they begin their biggest price moves.
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Is Snap Stock A Buy?
Snap stock has climbed more than 5% past a 10.70 entry in a first-stage cup with handle, meaning it's now out of a proper buy zone. Look for the Internet content stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.
The social media and content provider's earnings growth increased last quarter from -36% to 0%. But sales fell from 0% to -7%. The next quarterly results are expected on or around Jul. 25.
Snap stock holds the No. 17 rank among its peers in the Internet-Content industry group. LegalZoom.com and Weave Communications are also among the group's highest-rated stocks.
