One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Toast now clears that threshold, with a move from 78 to 82 Tuesday.
When looking for the best stocks to buy and watch, one factor to watch closely is 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 trailing 52 weeks matches up against other publicly traded companies.
Decades of market research shows that the market's biggest winners tend to have an RS Rating north of 80 in the early stages of their moves.
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Toast is not currently offering a proper buying opportunity. It recently powered through a cup with handle pattern, only to give it all back - and then some. See if the stock goes on to build a new base that could ignite a new run.
The company showed 0% earnings growth in its most recent report. Sales rose 53%. The next quarterly numbers are expected on or around Aug. 8.
Toast earns the No. 25 rank among its peers in the Finance-Card/Payment Processing industry group. Block and StoneCo Cl A are also among the group's highest-rated stocks.
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