Roblox had its Relative Strength (RS) Rating upgraded from 70 to 74 Friday -- a welcome improvement, but still below the 80 or higher score you prefer to see. However, once the market opened today, it has fallen back. Today seems to be a tough day for the technology side of the market, at least so far.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's proprietary RS Rating tracks market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research shows that the market's biggest winners often have an 80 or better RS Rating as they launch their biggest runs. See if Roblox can continue to show renewed price strength and clear that threshold.
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Roblox is working on a consolidation with a 47.65 buy point. See if the stock can move back above key moving averages then break out above the pivot in volume, ideally 40% higher than normal.
Roblox reported 0% EPS growth in its most recent report, while sales growth came in at 22%.
Roblox holds the No. 12 rank among its peers in the Computer Software-Gaming industry group. NeoGames and SciPlay are also among the group's highest-rated stocks.
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