BitAuto Trying To Close In On Key Technical Measure

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BitAuto ( BITA ) had its Relative Strength ( RS ) Rating upgraded from 69 to 75 Friday -- a welcome improvement, but still shy of the 80 or higher score you prefer to see.

[ibd-display-video id=2368044 width=50 float=left autostart=true] This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.

Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an RS Rating of above 80 as they launch their biggest climbs. See if BitAuto can continue to show renewed price strength and hit that benchmark.

See How IBD Helps You Make More Money In Stocks

BitAuto has moved more than 5% past a 32.43 entry in a first-stage cup with handle , meaning it's now out of a proper buy range. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.

Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 44%, compared to 9% in the prior report. Revenue increased from 52% to 54%.

The company holds the No. 20 rank among its peers in the Internet-Content industry group. Autohome ( ATHM ), Facebook ( FB ) and Alphabet ( GOOG ) are among the top 5 highly rated stocks within the group.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
Referenced Symbols: BITA , RS , ATHM , FB , GOOG

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