Stocks Showing Rising Market Leadership: Magnite Earns 81 RS Rating

The Relative Strength (RS) Rating for Magnite (MGNI) climbed into a new percentile Wednesday, with an increase from 62 to 81.


When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

This proprietary rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock’s price performance over the trailing 52 weeks matches up against the rest of the market.

History reveals that the top-performing stocks often have an RS Rating of above 80 in the early stages of their moves.

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Magnite has risen more than 5% past a 9.00 entry in a first-stage consolidation, meaning it’s now out of a proper buy range. Look for the stock to create a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.

While revenue growth fell last quarter from 20% to 11%, earnings-per-share grew 29%, up from 27% in the previous report.

Magnite earns the No. 9 rank among its peers in the Computer Software-Enterprise industry group. Aspen Technology (AZPN) and A10 Networks (ATEN) are also among the group’s highest-rated stocks.


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