On Monday, Reddit got a positive adjustment to its Relative Strength (RS) Rating, from 87 to 92.
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This unique rating tracks market leadership 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 other publicly traded companies.
History shows that the top-performing stocks tend to have an RS Rating of over 80 at the beginning of a new price run.
Reddit has risen more than 5% past a 78.08 entry in a first-stage cup without handle, meaning it's now out of a proper buy range. Look for the stock to create a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company posted 0% earnings growth in the latest quarterly report, while sales growth came in at 61%.
Reddit holds the No. 13 rank among its peers in the Internet-Content industry group. Kanzhun ADR, Meta Platforms and Full Truck Alliance ADR 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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