On Monday, GigaCloud Technology cleared a noteworthy performance benchmark, with its Relative Strength (RS) Rating climbing into the 90-plus percentile with an upgrade to 93, up from 90 the day before.
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This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against the rest of the market.
Over 100 years of market history shows that the best stocks often have an RS Rating north of 80 in the early stages of their moves.
GigaCloud Technology is now considered extended and out of buy range after clearing an 11.78 buy point in a first-stage cup without 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 line.
While sales growth fell last quarter from 8% to 4%, earnings-per-share grew 11%, up from -1% in the prior report.
The company earns the No. 6 rank among its peers in the Computer-Technical Services industry group. TaskUs, IBEX and RCM Technologies 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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