The Relative Strength (RS) Rating for Magnite stock jumped into a new percentile Friday, with a rise from 77 to 89.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against the rest of the market.
Over 100 years of market history shows that the top-performing stocks tend to have an RS Rating north of 80 in the early stages of their moves.
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Is Magnite Stock A Buy?
Magnite stock is working on a cup without handle with a 14.30 buy point. See if the stock can clear the breakout price in heavy volume. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
While earnings growth dropped in the company's most recent performance report from -8% to -50%, sales rose 10%, up from 9% in the previous report.
Magnite stock earns the No. 26 rank among its peers in the Computer Software-Enterprise industry group. Dynatrace and Qualtrics International are also among the group's highest-rated stocks.
