GameStop stock saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, with an increase from 66 to 76.
This proprietary rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks compares to the rest of the market.
History reveals that the top-performing stocks tend to have an RS Rating north of 80 in the early stages of their moves. See if GameStop stock can continue to show renewed price strength and clear that threshold.
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Is GameStop Stock A Buy?
GameStop stock has climbed more than 5% past an 18.59 entry in a first-stage cup without handle, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.
The gaming retailer reported 0% EPS growth last quarter. Revenue rose -29%. Keep an eye out for the company's next round of numbers on or around Sep. 4.
GameStop stock earns the No. 3 rank among its peers in the Retail-Consumer Electronics industry group. Best Buy is the top-ranked stock within the group.
