The Relative Strength (RS) Rating for Robinhood Markets moved into a new percentile Tuesday, as it got a lift from 66 to 74. The financial trading platform has benefitted from the recent rally in cryptocurrencies. Investors should also tread carefully with Robinhood Market stock as crypto and blockchain trends are volatile.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
This proprietary rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks compares to other publicly traded companies.
Over 100 years of market history reveals that the best stocks often have an RS Rating of over 80 as they begin their largest climbs. See if Robinhood Markets stock can continue to show renewed price strength and hit that benchmark.
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Is Robinhood Markets Stock A Buy?
Robinhood Markets stock rallied off a double-bottom base in December. Since then, the stock has pulled along with other crypto-inspired names. While Robinhood Markets is not near an ideal buy point right now, see if it manages to form and break out from a proper chart pattern.
The financial trading platform showed 0% earnings growth in the latest quarterly report. Revenue gains came in at 29%. Look for the next report on or around Feb. 13.
Robinhood Markets stock earns the No. 12 rank among its peers in the Finance-Investment Banking/Brokers industry group. XP and Ameriprise Financial are also among the group's highest-rated stocks.
