On Friday, GameStop Cl A reached a noteworthy performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 77 the day before.
IBD's unique RS Rating identifies technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
Over 100 years of market history reveals that the best-performing stocks typically have an 80 or better RS Rating as they begin their biggest runs.
Risk Management In The Stock Market: How Much Money To Invest Now
GameStop Cl A has moved more than 5% past an 18.59 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 pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 0% to 500%. Revenue rose from -31% to -20%.
The company earns the No. 2 rank among its peers in the Retail-Consumer Electronics industry group. GameStop Cl A is the No. 1-ranked stock within the group.
RELATED:
Which Stocks Are Showing Improved Technical Action?
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
