On Tuesday, Warner Bros. Discovery A hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 84, up from 80 the day before.
IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 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 tend to have an RS Rating north of 80 in the early stages of their moves.
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Warner Bros. Discovery A has moved more than 5% past an 8.94 entry in a first-stage consolidation, meaning it's now out of a proper buy zone. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company posted 0% earnings growth last quarter, while sales growth came in at -4%. The next quarterly results are expected on or around Feb. 27.
Warner Bros. Discovery A holds the No. 5 rank among its peers in the Media-Radio/TV industry group. TEGNA is the No. 1-ranked stock within the group.
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