Tradeweb Markets stock has formed a cup with handle base with a buy point of 149.25. Tradeweb stock is Thursday's selection for IBD 50 Stocks To Watch.
The financial services company provides an online marketplace for trading stocks, bonds and money market funds. It connects institutional, retail and corporate investors.
Shares retreated sharply from an all-time high of 152.65 after President Donald Trump's tariffs announcement on April 2 and undercut the 50-day moving average. But then the stock recovered and retook that key level on earnings on April 30 to form a first-stage base. Early-stage bases can net higher gains.
On IBD MarketSurge, there are other signs of strong action.
The specialty financial services stock boasts strong technical ratings. Its Composite Rating is nearly ideal and sits at 98. The Earnings Per Share Rating of 96 follows the company's strong execution, leading to steady earnings growth in the two most recent quarters.
Earning growth has ranged between 5% and 37% over the past eight quarters. Sales have grown between 11% and 36%. In the first quarter, sales increased 25% to $509.7 million, and earnings rose 21% to 86 cents per share.
The IBD 50 stock has also outperformed 89% of other stocks in the IBD database over the past 52 weeks.
Tradeweb stock ranks second in the financial services-specialty group, according to IBD Stock Checkup. The group holds 38th place among Investor's Business Daily's 197 industry groups.
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Tradeweb Stock's Outstanding Fund Ownership, Low ATR
Shares started trading on the Nasdaq on April 4, 2019, for an initial offering price of 27.
Funds have been net buyers of Tradeweb stock over the past 13 weeks, giving it an Accumulation/Distribution Rating of B-. More funds have been net buyers over the past seven quarters.
Tradeweb Markets has a low average true range with its 21 day ATR sitting at 2.65, according to MarketSurge data. Stocks with lower ATRs are not prone to making big intraday moves and are more likely to withstand volatility, making them safer bets compared with other stocks that have higher ATRs.
In the IBD mutual fund index, the Artisan Mid Cap Fund (ARTMX), the Franklin Growth Fund (FKGRX) and the Allspring Growth Fund (SGRAX) hold shares of Tradeweb.
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