In a welcome move, Etsy saw its Relative Strength Rating rise from 63 to 77 on Friday.
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IBD's unique RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matched up against all other stocks.
History reveals that the best-performing stocks tend to have an 80 or higher RS Rating in the early stages of their moves. See if Etsy can continue to show renewed price strength and clear that threshold.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to form a chart pattern and break out.
The company showed 0% earnings growth in its most recent report. Sales increased 1%. Keep an eye out for the company's next round of numbers on or around Jul. 30.
The company earns the No. 26 rank among its peers in the Retail-Internet industry group. DoorDash, MercadoLibre and Olo are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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