On Tuesday, Shopify stock got a positive adjustment to its Relative Strength (RS) Rating, from 65 to 84.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating tracks market leadership by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
Decades of market research shows that the best-performing stocks tend to have an 80 or higher RS Rating in the early stages of their moves.
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Is Shopify Stock A Buy?
Shopify stock is building a cup with handle with a 45.16 entry. See if the stock can clear the breakout price in heavy trading. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The cloud-based e-commerce platform firm showed 0% EPS growth last quarter. Sales increased 22%. Look for the next report on or around Feb. 15.
Shopify stock holds the No. 20 rank among its peers in the Computer Software-Enterprise industry group. ServiceNow and Paycom Software are also among the group's highest-rated stocks.
