The stock of Global Ship Lease (GSL) has been upgraded from a Relative Strength (RS) Rating of 66 to 72, which is a positive development. However, it falls short of the ideal score of 80 or higher that investors typically look for. This rating measures a stock’s market leadership on a scale of 1 to 99, with higher scores indicating better price performance compared to other stocks over the past 52 weeks.
Global Ship Lease recently broke past a 21.94 entry in a flat base, putting it within a buy range. The buying range extends up to 5% above the initial entry point. Once a stock surpasses this range, it is advisable to hold off on investing until it presents another buying opportunity.
Investors should monitor Global Ship Lease stock to see if it continues to rise and reaches the benchmark of an RS Rating of 80 or higher in the early stages of its move, as historical data spanning over 100 years suggests that such stocks are more likely to produce significant gains in the long run.
Global Ship Lease saw growth in both earnings and sales in the previous quarter. Earnings-per-share rose from -2% to 16%, while revenue increased from 1% to 8%. The company is expected to announce its latest financial results on or around May 6. Within the Transportation-Ship industry group, Global Ship Lease holds the No. 5 rank, with Costamare (CMRE) ranking as the top stock in the group.
To aid investors in their decision-making process and maximize their returns, they can utilize tools such as MarketSurge and stay informed about daily stock market analysis. Additionally, tools like IBD Live and SwingTrader can help investors profit from short-term trends and research growth stocks effectively to identify potential investment opportunities.
In conclusion, while Global Ship Lease’s recent upgrade was positive news for investors, there is still room for improvement before reaching their ideal benchmark score of an RS Rating of