On Friday, Hut 8 reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 89, up from 80 the day before.
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This exclusive rating from Investor's Business Daily identifies share price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the top-performing stocks typically have an RS Rating north of 80 as they launch their biggest climbs.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to offer and clear an appropriate buy point.
Hut 8 reported 0% EPS growth in the latest quarterly report. Sales gains came in at -58%.
Hut 8 earns the No. 24 rank among its peers in the Financial Services-Specialty industry group. X Financial ADR, Tradeweb Markets and Marex Group 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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