The Relative Strength (RS) Rating for DoorDash entered a new percentile Monday before the open, with an increase from 73 to 82. Unfortunately, with today's action it has fallen back to 79.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
Decades of market research reveals that the best stocks tend to have an RS Rating north of 80 in the early stages of their moves.
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DoorDash is still within a buy zone after moving past a 65.24 buy point in a cup with handle. The proper buying range is up to 5% above the initial entry. Remember that once a stock moves above that range, it's best to hold off investing and wait for it to set up another buying opportunity.
DASH Earnings
The company showed 0% EPS growth in the latest quarterly report, while sales growth came in at 40%.
The company holds the No. 12 rank among its peers in the Retail-Internet industry group. Liquidity Services and Vipshop Holdings ADR are also among the group's highest-rated stocks.
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