When considering what names to put on your watch list, focus on stocks with an 80 or higher RS Rating. Robinhood Markets is one stock that just reached the mark, now earning a score of 83.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating identifies technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
History reveals that the best stocks often have an 80 or higher RS Rating in the early stages of their moves.
See How IBD Helps You Make More Money In Stocks
While the stock is not near a proper entry right now, see if it is able to form and break out of a proper base. It recently fell back after breaking out of a Consolidation base. With today's action, it appears it may be getting support at the 50-day moving average. No harm in keeping it on your watchlist.
HOOD Earnings
Robinhood Markets reported 0% earnings growth in the latest quarterly report. Sales gains came in at 53%.
The company earns the No. 14 rank among its peers in the Finance-Investment Banking/Brokers industry group. Interactive Brokers and Ameriprise Financial are also among the group's highest-rated stocks.
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