Hut 8 had its Relative Strength (RS) Rating upgraded from 89 to 93 Thursday.
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IBD's proprietary RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against the rest of the market.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an 80 or higher RS Rating as they launch their largest climbs.
While Hut 8 is not near a proper buy zone right now, see if it goes on to form and break out of a proper chart pattern.
Hut 8 reported 0% earnings growth in its most recent report. Sales gains came in at -58%.
Hut 8 earns the No. 31 rank among its peers in the Financial Services-Specialty industry group. X Financial ADR, IREN and Jiayin Group 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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