On Friday, MercadoLibre earned an upgrade to its Relative Strength (RS) Rating, from 74 to 89.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
This exclusive rating from Investor's Business Daily measures share price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains often have an RS Rating north of 80 in the early stages of their moves.
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The IBD 50 stock is working on a consolidation with a 1,095.44 entry. It been steadily moving higher in recent days and recently on higher volume. It currently might be a little extended for a new entry.
The company posted 33% earnings growth in the latest quarterly report, while sales growth came in at 45%.
MercadoLibre stock holds the No. 3 rank among its peers in the Retail-Internet industry group. JD.com ADR is also among the group's highest-rated stocks.
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