On Friday, Magnite got a positive adjustment to its Relative Strength (RS) Rating, from 69 to 74.
Can You Really Time The Stock Market?
IBD's proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks compares to other publicly traded companies.
History shows that the market's biggest winners tend to have an 80 or higher RS Rating as they begin their biggest climbs. See if Magnite can continue to show renewed price strength and clear that threshold.
While the stock is not near a proper buy zone right now, see if it is able to form and break out from a proper base.
The company posted 140% EPS growth last quarter, while sales growth came in at 4%.
Magnite holds the No. 18 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies, Cloudflare and ServiceNow 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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