When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor’s Business Daily tracks price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price movement over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the market’s biggest winners tend to have an RS Rating north of 80 as they launch their biggest runs. See if Lyft can continue to show renewed price strength and hit that benchmark.
Lyft stock has pulled back off its 52-week high of 68.28 on Mar. 18 and sitting about 24% off that high. It’s now considered extended and out of buy range after clearing a 41.29 buy point in a first-stage cup without handle. See if the stock forms a new chart pattern or follow-on buying opportunity 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.
Although earnings and sales growth came in at -9% and -36%, respectively, in the latest report, that marked two straight quarters of acceleration for EPS and three for sales.
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