GameStop stock saw a welcome improvement to its Relative Strength (RS) Rating on Monday, rising from 72 to 92.
IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against the rest of the market.
Over 100 years of market history reveals that the best-performing stocks typically have an RS Rating north of 80 as they launch their biggest climbs.
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Is GameStop Stock A Buy?
GameStop stock is working on reclaiming its 50- and 200-day moving average. 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. This is not the time to buy stocks during a market correction, but build a watchlist of possible emerging leaders once the market trend turns around.
The gaming retailer showed 36% EPS growth last quarter. Sales rose -28%.
GameStop stock earns the No. 2 rank among its peers in the Retail-Consumer Electronics industry group. GameStop is the No. 1-ranked stock within the group.
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