Pinduoduo saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, rising from 72 to 91, holding current levels, as mentioned on today's IBD Live.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength. IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
History shows that the best stocks often have an RS Rating of above 80 at the beginning of a new run.
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Pinduoduo is currently near a potential buying area of $68.81 from a cup pattern. Buying at a pivot point in the current market has not been working out all that well. Watchlist this one, looking for a market change or a big move on heavy volume.
The company saw both earnings and sales growth rise last quarter. Earnings per share increased from 0% to 157%. Revenue rose from 11% to 31%.
Pinduoduo earns the No. 1 rank among its peers in the Retail-Internet industry group. Vipshop and JD.com are also among the group's highest-rated stocks.
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