In a welcome move, Futu Holdings stock saw its Relative Strength Rating rise from 66 to 71 on Tuesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the best stocks typically have an RS Rating north of 80 as they begin their largest runs. See if Futu Holdings stock can continue to show renewed price strength and clear that threshold.
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Is Futu Holdings Stock A Buy?
Futu Holdings stock has been trading below its 50- and 200-day moving average in a narrow consolidation. Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to form a chart pattern and break out.
In terms of top and bottom line numbers, the company has posted three quarters of increasing earnings growth. Top line growth has also increased during the same period. The company is expected to report its next quarterly numbers on or around May 18.
Futu Holdings stock earns the No. 2 rank among its peers in the Finance-Investment Banking/Brokers industry group. Futu Holdings and Freedom Holding are also among the group's highest-rated stocks.
