On Friday, Moelis (MC) hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 92, up from 87 the day before.
↑X NOW PLAYINGHow To Buy Stocks: Do You Know Your Stock's Personality Type? IBD's unique RS 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 other publicly traded companies.
Decades of market research shows that the best stocks tend to have an RS Rating north of 80 in the early stages of their moves.
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Moelis is now considered extended and out of buy range after clearing a 58.36 buy point in a first-stage flat base. 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 line.
While the company's bottom line growth dropped in the prior quarter from 340% to 0%, sales grew 47%, up from 16% in the prior report.
Moelis earns the No. 3 rank among its peers in the Finance-Investment Banking/Brokers industry group. Jefferies Financial Group (JEF) is the No. 1-ranked stock within the group.
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