When building your watch list, look for stocks with an 80 or higher RS Rating. Galaxy Digital just cleared that benchmark with an upgrade from 65 to 81.
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This unique rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against that of all other stocks.
Over 100 years of market history reveals that the best-performing stocks often have an 80 or higher RS Rating in the early stages of their moves.
Galaxy Digital is trying to complete a cup without handle with a 26.60 buy point. See if it can break out in volume at least 40% higher than normal.
The stock's relative strength line is in new high ground, a promising indicator ahead of a potential breakout.
Earnings growth moved up in the company's most recent report from -54% to 0%, but the top line fell from 108% to 31%. The company is expected to report its latest performance numbers on or around Aug. 13.
The company holds the No. 40 rank among its peers in the Financial Services-Specialty industry group. IREN, X Financial ADR and FinVolution Group ADR 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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