MercadoLibre saw its IBD SmartSelect Composite Rating jump to 98 Tuesday, up from 94 the day before.
The upgrade means the stock is now outpacing 98% of all other stocks in terms of key performance metrics and technical strength. Winning stocks often have a 95 or higher score in the early stages of a new price run, so that's a good item to have on your checklist when looking for the best stocks to buy and watch.
MercadoLibre broke out earlier, but has fallen back below the prior 1,365.64 entry from a cup without handle. If a stock you're tracking climbs above a buy point then retreats 7% or more below the original entry price, it's considered a failed base. So far, that has not happened but keep a close eye on this one as the market continues to struggle.
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The stock earns an 82 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 82% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
In Q2, the company reported 112% earnings growth. Top line growth came in at 31%, down from 35% in the previous quarter.
MercadoLibre earns the No. 1 rank among its peers in the Retail-Internet industry group. Liquidity Services and PDD Holdings ADR are also among the group's highest-rated stocks.
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