On Monday, Overstock.com (OSTK) received a positive adjustment to its Relative Strength (RS) Rating, from 76 to 84. The discount online retailer has been trading sideways in long consolidation, just above its 50-day moving average.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
This exclusive rating from Investor’s Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price behavior over the last 52 weeks compares to all the other stocks in our database.
History shows that the best-performing stocks tend to have an 80 or better RS Rating as they launch their biggest climbs.
Overstock.com stock has climbed more than 5% past a 20.60 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 moving average. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.
Top and bottom line growth moved higher last quarter. Earnings were up 264%, compared to 0% in the prior report. Revenue increased from 84% to 94%.
Overstock.com stock earns the No. 5 rank among its peers in the Retail-Internet industry group. Liquidity Services (LQDT) and Live Ventures (LIVE) are also among the group’s highest-rated stocks. For more industry news, check out “Retail Industry News And Stocks To Watch.”
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