The Relative Strength Indicator is a common technical indicator used to measure a stock’s momentum.
One of those metrics is the relative strength indicator . This is a momentum indicator that measures the speed and magnitude of a security’s recent price changes to predict overvalued or undervalued conditions in a stock’s price. However, analysts don’t share that enthusiasm. On three separate occasions in the last 52 weeks, Tesla stock has flirted with a 52-week high of around $270. On each occasion, the stock has been rebuffed. TSLA stock has been down over 11% in the last three months and will now be down over 10% in 2024.
That's been a headwind for the healthcare giant in 2024. Despite year-over-year growth in revenue and earnings, UNH stock has been up just 7.5% and has been down about 2.5% in the last month, including the time since the company’s earnings report on October 15. That suggests that Costco shoppers, who have been remarkably resilient, are also feeling pressure from inflation. But with Costco, it’s important to look at the floor for revenue and earnings and not the floor. The company has a loyal subscriber base. And since the company raised its subscriber fee in September, it’s showing a retention rate of over 90%. Investors should keep that in mind when they consider buying any dip in COST stock.
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