Roblox saw a positive improvement to its Relative Strength (RS) Rating on Wednesday, rising from 73 to 83.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating identifies 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 stocks that go on to make the biggest gains tend to have an 80 or better RS Rating in the early stages of their moves.
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Roblox is trying to complete a consolidation with a 47.65 entry. See if it can clear the breakout price in heavy trading.
Roblox posted 0% EPS growth in its most recent report, while sales growth came in at 22%.
The company holds the No. 11 rank among its peers in the Computer Software-Gaming industry group. NeoGames and SciPlay are also among the group's highest-rated stocks.
