On Tuesday, Futu Holdings (FUTU) stock experienced a significant increase in its Relative Strength (RS) Rating, moving from 68 to 75. This improvement was notable because the RS Rating is a unique measure of market leadership on a scale of 1 to 99, with 99 indicating the best performance compared to other publicly traded companies over the past 52 weeks. Research has shown that stocks with an RS Rating above 80 tend to be the best performers, and this recent increase for Futu Holdings is worth watching as it potentially makes its biggest price moves.
As investors evaluate whether to buy Futu Holdings stock, they will weigh various factors along with market trends and analysis tools. For example, in the most recent quarterly report, Futu Holdings showed -6% earnings growth and 4% sales growth. Despite this performance, the stock ranks No. 9 among its peers in the Finance-Investment Banking/Brokers industry group. Within this industry group, top-rated stocks include Interactive Brokers (IBKR), XP (XP), and Robinhood Markets (HOOD).
Additionally, investors will be monitoring Futu Holdings’ progress to see if it can break out on high volume, signaling potential further gains as it tries to complete a cup with handle pattern with an entry price of $65.44. The company’s ability to maintain this momentum will be critical as it tries to establish itself as a leader in the financial technology industry and compete with established players like Interactive Brokers and Robinhood Markets.
