The Relative Strength (RS) Rating for ACV Auctions climbed into a new percentile Tuesday, with a rise from 80 to 84.
This proprietary rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against the rest of the market.
History reveals that the market's biggest winners often have an RS Rating north of 80 in the early stages of their moves.
Hone Your Stock-Picking Skills By Focusing On These Factors
ACV Auctions broke out earlier, but has fallen back below the prior 21.11 entry from a cup without handle. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new base to form. Also understand that the most recent pattern is a later-stage base, and such bases are more prone to failure.
The company posted 0% earnings growth in the latest quarterly report. Revenue gains came in at 44%.
The company holds the No. 1 rank among its peers in the Retail/Wholesale-Auto Parts industry group. Group 1 Automotive and Lithia Motors are also among the group's highest-rated stocks.
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