On Monday, GameStop Cl A hit a noteworthy performance benchmark, with its Relative Strength (RS) Rating climbing into the 80-plus percentile with an upgrade to 84, an increase from 76 the day before.
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This unique rating measures technical performance 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.
Decades of market research shows that the market's biggest winners typically have an 80 or better RS Rating as they launch their biggest climbs.
GameStop Cl A broke out earlier, but has fallen back below the prior 29.80 entry from a double bottom. If a stock you're tracking clears a buy point then declines 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new base and entry price. Also understand that the latest pattern is a later-stage base, and such bases are more prone to failure.
GameStop Cl A reported 36% EPS growth in the latest quarterly report. Revenue gains came in at -28%. Look for the next report on or around Jun. 10.
The company 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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