Lions Gate Entertainment (LGFB) had its Relative Strength ( RS ) Rating upgraded from 72 to 81 Friday.
[ibd-display-video id=2368044 width=50 float=left autostart=true] IBD's unique RS Rating measures market leadership by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating as they begin their biggest climbs.
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Lions Gate Entertainment broke out earlier, but is now about 4% below the prior 32.18 entry from a cup without handle . In the case where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to take shape. Also understand that the latest pattern is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
While revenue growth fell last quarter from 82% to 47%, earnings-per-share grew 2,800%, up from 308% in the previous report.
The company earns the No. 3 rank among its peers in the Leisure-Movies & Related industry group. Netflix ( NFLX ) 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.
