On Tuesday, Futu Holdings ADR hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 93, up from 90 the day before.
How To Use Stock Charts To Stay Profitable And Protected
IBD's unique RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 as they begin their biggest price moves.
The stock, which is on both the IBD 50 and IBD 50 screens, is now considered extended and out of buy range after clearing a 118.52 buy point in a first-stage cup with handle. 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 moving average.
Futu Holdings ADR reported 97% earnings growth last quarter. Revenue increased 82%.
Futu Holdings ADR earns the No. 1 rank among its peers in the Finance-Investment Banking/Brokers industry group. LPL Financial Holdings and BGC Group Cl A are also among the group's highest-rated stocks.
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.
RELATED:
Stocks With Rising Relative Strength Ratings
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
