BTC Digital had its Relative Strength (RS) Rating upgraded from 62 to 99 Wednesday.
IBD's proprietary RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research reveals that the best-performing stocks typically have an 80 or higher RS Rating at the beginning of a new run.
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BTC Digital has moved more than 5% past a 10.62 entry in a first-stage saucer with handle, meaning it's now out of a proper buy range. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company showed 0% earnings growth last quarter, while sales growth came in at -63%. The company is expected to report its latest results on or around Nov. 18.
BTC Digital earns the No. 51 rank among its peers in the Financial Services-Specialty industry group. Marex Group, Sezzle and Tradeweb Markets are among the top 5 highly rated stocks within the group.
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