Fiverr International stock had its Relative Strength (RS) Rating upgraded from 66 to 84 Thursday. The online marketplace for freelancer stock rose 16% amid positive Q3 earnings results.
IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
Over 100 years of market history reveals that the market's biggest winners often have an 80 or higher RS Rating in the early stages of their moves.
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Is Fiverr International Stock A Buy?
Fiverr International stock has moved more than 5% past a 26.71 entry in a first-stage double bottom, meaning it's now out of a proper buy zone. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company's Q3 earnings growth decreased in the most recent quarter from 18% to 16%. But revenue growth moved higher, from 6% to 8%, beating analysts' estimates.
Fiverr International stock earns the No. 3 rank among its peers in the Retail-Internet industry group. MercadoLibre is the No. 1-ranked stock within the group.
