The Relative Strength (RS) Rating for Roku Cl A entered a new percentile Thursday, with a rise from 61 to 80.
IBD's unique RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against the rest of the market.
History shows that the top-performing stocks often have an RS Rating north of 80 as they launch their biggest price moves.
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Roku Cl A broke out earlier, but has fallen back below the prior 80.77 entry from a consolidation. If a stock you're tracking clears a buy point then declines 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new base and buy point. Also understand that the latest consolidation is a later-stage base, and such bases are more prone to failure.
The company showed 0% earnings growth last quarter, while sales growth came in at 16%.
Roku Cl A holds the No. 4 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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