One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Roku stock (ROKU) now clears that threshold, with a jump from 77 to 81 Monday.
↑ XThis proprietary rating tracks market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
Decades of market research reveals that the best stocks often have an 80 or better RS Rating as they begin their biggest runs.
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Roku stock broke out earlier, but has fallen back below the prior 80.77 entry from a consolidation. If a stock you're watching clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new base and breakout. Also understand that the most recent consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
The smart tv operating system company showed 0% earnings growth last quarter. Sales gains came in at 16%.
Roku stock holds the No. 2 rank among its peers in the Leisure-Movies & Related industry group. Netflix (NFLX) is the No. 1-ranked stock within the group.
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