When putting together your watch list, look for stocks with an 80 or higher RS Rating. Magnite is one stock that just reached the mark, now earning a score of 82.
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IBD's proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against that of all other stocks.
Decades of market research reveals that the stocks that go on to make the biggest gains tend to have an 80 or higher RS Rating in the early stages of their moves.
While Magnite is not near a proper entry right now, see if it is able to form and break out of a proper consolidation.
Magnite posted 140% earnings growth in its most recent report. Revenue rose 4%.
The company holds the No. 17 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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