The Relative Strength (RS) Rating for Block stock climbed into a new percentile Monday, with an increase from 80 to 83.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against that of all other stocks.
Decades of market research reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of over 80 as they launch their biggest runs.
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Is Block Stock A Buy?
Block stock has been trading above its 200-day moving average the past few months, a good sign. The financial payment stock is not currently showing a potential buy point. See if the stock goes on to form a promising consolidation that could launch a new move. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips. Check out "Is SQ Stock A Buy With Cash App Profit Growth A Bright Spot".
The payment company posted -19% earnings growth last quarter. Revenue rose 14%.
Block stock earns the No. 13 rank among its peers in the Finance-Card/Payment Processing industry group. Cass Info Systems and i3 Verticals Cl A are also among the group's highest-rated stocks.
