Socket Mobile Earns 99 RS Rating; Stock Soars to Record High | #education | #computertraining


Socket Mobile (SCKT) had its Relative Strength (RS) Rating upgraded from 88 to 99 Wednesday. The stock soared Tuesdays on news of its release of iPhone 12 barcode scanner.




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When you’re researching the best stocks to buy and watch, keep a close on eye on relative price strength. IBD’s unique rating tracks price performance with a 1 (worst) to 99 (best) score. The score shows how a stock’s price behavior over the trailing 52 weeks compares to all the other stocks in our database.

Over 100 years of market history reveals that the best-performing stocks tend to have an RS Rating north of 80 at the beginning of a new climb.


Looking For Winning Stocks? Try This Simple Routine


Socket Mobile is now considered extended and out of buy range after clearing a 2.06 buy point in a first-stage consolidation. See if the stock forms a new 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.

 

Earnings grew 500% last quarter, up from 0% in the prior report. Revenue also increased, from -46% to -17%.

The company holds the No. 5 rank among its peers in the Computer-Hardware/Peripherals industry group. Logitech International (LOGI) is the No. 1-ranked stock within the group.

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