Reddit saw a positive improvement to its Relative Strength (RS) Rating on Thursday, rising from 88 to 94.
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This exclusive rating from Investor's Business Daily identifies price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
History shows that the market's biggest winners typically have an 80 or higher RS Rating in the early stages of their moves.
Reddit has climbed more than 5% past a 78.08 entry in a first-stage cup without handle, 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.
Reddit reported 0% earnings growth last quarter, while sales growth came in at 61%.
The company holds the No. 13 rank among its peers in the Internet-Content industry group. Full Truck Alliance ADR, Kanzhun ADR and Meta Platforms 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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