On Friday, GameStop Cl A reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 93, up from 87 the day before.
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IBD's unique rating identifies share price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 at the beginning of a new run.
GameStop Cl A has climbed more than 5% past a 29.80 entry in a second-stage double bottom, meaning it's now out of a proper buy range. Look for the stock to offer 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 36% EPS growth in the latest quarterly report, while sales growth came in at -28%. The company is expected to report its latest results on or around Jun. 4.
GameStop Cl A holds the No. 1 rank among its peers in the Retail-Consumer Electronics industry group. Best Buy and are also among the group's highest-rated stocks.
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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