Gray Television ( GTN ) had its Relative Strength ( RS ) Rating upgraded from 67 to 72 Wednesday -- a welcome improvement, but still shy of the 80 or higher score you look for.
[ibd-display-video id=2385970 width=50 float=left autostart=true] This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks often have an RS Rating of at least 80 as they begin their biggest climbs. See if Gray Television can continue to rebound and hit that benchmark.
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Gray Television broke out earlier, but has fallen back below the prior 16.80 entry from a consolidation . If a stock you're watching climbs above a buy point then declines 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 pattern and breakout. Also keep in mind that the most recent consolidation is a later-stage base, and such bases are more prone to failure.
The company showed -19% earnings growth in its most recent report. Revenue rose 7%.
The company earns the No. 4 rank among its peers in the Media-Diversified industry group. World Wrestling Entertainment ( WWE ) is the top-ranked stock 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.