One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Magnite stock now clears that threshold, with a jump from 80 to 83 Monday.
Looking For The Best Stocks To Buy And Watch? Start Here
This proprietary rating measures market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research reveals that the best-performing stocks tend to have an RS Rating north of 80 as they begin their biggest price moves.
Is Magnite Stock A Buy?
Magnite stock has trading in a tight range above the 200-day moving average in recent weeks. While the tech stock is not near an ideal entry right now, see if it goes on to form and break out of a proper base.
The computer software company posted 140% earnings growth last quarter, while sales growth came in at 4%.
Magnite stock 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.
