Tilray (TLRY) saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, with an increase from 64 to 77.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD’s proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price movement over the last 52 weeks stacks up against all the other stocks in our database.
History reveals that the market’s biggest winners often have an RS Rating north of 80 as they begin their largest price moves. See if Tilray can continue to rebound and clear that threshold.
Looking For The Best Stocks To Buy And Watch? Start Here
Since hitting a 52-week high of 67 on Feb. 10, Tilray stock has pulled back in a deep consolidation, giving up most of its Jan.-Feb. gains. It’s currently trading below its 50- and 200-day moving average and out of buy range. See if the stock forms a new chart pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips. Also, check out “Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks.”
The Canadian pot firm saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 0% to 146%. Revenue rose from 15% to 25%.
Tilray stock holds the No. 11 rank among its peers in the Consumer Products-Specialty industry group. Flora Growth (FLGC) and Central Garden & Pet (CENTA) are also among the group’s highest-rated stocks.
YOU MIGHT ALSO LIKE:
MarketSmith’s Tools Can Help The Individual Investor
IBD Live: A New Tool For Daily Stock Market Analysis
Profit From Short-Term Trends With SwingTrader
How To Research Growth Stocks: Why This IBD Tool Simplifies The Search For Top Stocks