On Thursday, GameStop stock cleared a key performance benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 92, up from 83 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's proprietary RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research shows that the best-performing stocks often have an 80 or better RS Rating at the beginning of a new run.
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Is GameStop Stock A Buy?
GameStop stock recently retook its 200-day moving average and is now considered extended and out of buy range. 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 moving average.
Earnings-per-share growth fell in the company's most recent report from 0% to -362%, but the top line rose from 6% to 8%.
GameStop stock earns the No. 2 rank among its peers in the Retail-Consumer Electronics industry group. Best Buy is the top-ranked stock within the group.
