MercadoLibre (MELI) had its Relative Strength (RS) Rating upgraded from 88 to 91 Thursday, before the market opened. It might fall back considering today’s action.
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When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD’s unique RS Rating measures technical performance by showing how a stock’s price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research reveals that the market’s biggest winners tend to have an RS Rating of above 80 at the beginning of a new run.
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The IBD 50 stock is working on a consolidation with a 1,365.64 entry. See if the stock can hold up and break above in volume at least 40% higher than normal.
Earnings growth picked up last quarter from 0% to 205%. But sales fell from 41% to 35%.
MercadoLibre holds the No. 1 rank among its peers in the Retail-Internet industry group. Vipshop Holdings ADR (VIPS) and Liquidity Services (LQDT) are also among the group’s highest-rated stocks.
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Source: https://www.investors.com/research/mercadolibre-earns-relative-strength-rating-upgrade-2/?src=A00220&yptr=yahoo