On Monday, DoorDash reached a noteworthy technical benchmark, with its Relative Strength (RS) Rating moving into the 80-plus percentile with an improvement to 85, an increase from 80 the day before.
IBD's unique rating 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 market's biggest winners typically have an RS Rating north of 80 in the early stages of their moves.
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DoorDash is now considered extended and out of buy range after clearing an 85.38 buy point in a second-stage double bottom. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The company showed 0% earnings growth in the latest quarterly report. Sales gains came in at 23%.
DoorDash holds the No. 14 rank among its peers in the Retail-Internet industry group. PDD Holdings ADR, Amazon.com and Liquidity Services are among the top 5 highly rated stocks within the group.
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