On Tuesday, GameStop Cl A cleared an important performance benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 93, up from 88 the day before.
IBD's proprietary RS Rating measures technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research reveals that the market's biggest winners tend to have an RS Rating north of 80 in the early stages of their moves.
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GameStop Cl A has climbed more than 5% past an 18.59 entry in a first-stage cup without handle, meaning it's now out of a proper buy range. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
GameStop Cl A posted 0% EPS growth in its most recent report. Revenue gains came in at -31%.
The company holds the No. 3 rank among its peers in the Retail-Consumer Electronics industry group. Best Buy is the top-ranked stock within the group.
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