On Thursday, GigaCloud Technology hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 84, up from 79 the day before.
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This unique rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against that of all other stocks.
History shows that the market's biggest winners often have an RS Rating north of 80 in the early stages of their moves.
GigaCloud Technology has moved more than 5% past an 11.78 entry in a first-stage cup without handle, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
While sales growth fell last quarter from 21% to 8%, EPS grew -1%, up from -30% in the prior report.
GigaCloud Technology earns the No. 12 rank among its peers in the Computer-Technical Services industry group. IBEX, RCM Technologies and LiveRamp Holdings 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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