Three IT services stocks have surged in momentum as they join the top 10th momentum percentile rankings this week, highlighting strong technical signals and growing investor demand in the IT services sector.
What Is Momentum Percentile?
Benzinga’s Edge Stock Rankings‘ momentum percentile ranks a stock's price strength and volatility against its peers using a composite score, with higher percentiles indicating greater momentum.
This ranking is a signaling tool for traders and investors, often identifying shares gaining favor and technical strength before broader market recognition
3 Stocks Soar As Momentum Improves
Ibex Ltd. (NASDAQ:IBEX), 9F Inc. ADR (NASDAQ:JFU), and GDS Holdings Ltd. ADR (NASDAQ:GDS) have demonstrated significant week-on-week gains in their momentum percentiles, reflecting robust upward trends in their stock prices relative to the broader market.
Ibex
- Ibex climbed from an already high percentile of 86.34 last week to a robust 92.45th percentile this week—a jump of 6.11 percentile points. This rise signals sustained upward price action and places Ibex firmly among the most technically robust names in the IT services space.
- The stock has risen by 88.66% year-to-date and 103.78% over a year.
- It maintains a stronger price trend over the short, medium, and long term, with a relatively good quality ranking. Additional performance details are available here.
See Also: 3 Electrical Equipment And Parts Stocks Flashing Strong Signals
9F
- JFU advanced from 89.29th to the 92.66th percentile within a week, gaining 3.37 points in momentum percentile. This continued momentum push suggests that traders are increasingly positioning for an extended rally.
- Higher by JFU YTD, the stock was up 88.49% over the year.
- With a poor growth ranking, this stock maintained a stronger price trend over the short, medium, and long terms. Additional performance details are available here.
GDS Holdings
- GDS saw its momentum percentile jump from the 86.57th to 90.38th percentile, an increase of 3.81 points week-on-week. This surge suggests that investor appetite for GDS is climbing, putting the company within the select group of highest-momentum technology stocks.
- The stock advanced 68.08% YTD and 89.96% over the year.
- It had a stronger price trend in the short, medium, and long terms, with a moderate value ranking. Additional performance details are available here.
The collective rise of these three IT services companies into the momentum top decile highlights a growing trend of sector-specific strength, potentially driven by robust earnings, sectoral growth, or increased institutional interest.
Price Action
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, fell in premarket on Monday. The SPY was down 0.25% at $662.01, while the QQQ fell 0.37% to $597.14, according to Benzinga Pro data.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga
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