Global Ship Lease (GSL) stock received an upgrade in its Relative Strength (RS) Rating from 66 to 72 on Tuesday, showing improvement but still falling short of the ideal score of 80 or higher. This rating is an exclusive measure by Investor’s Business Daily that ranks a stock’s market leadership on a scale of 1 to 99 based on its price performance over the last 52 weeks in comparison to other stocks in the database. Research over the past 100 years has shown that stocks with an RS Rating of 80 or above tend to achieve the largest gains in the early stages of their moves. It will be interesting to see if Global Ship Lease stock can continue to recover and reach that benchmark.
The question remains: Is Global Ship Lease stock a buy? The company’s stock is currently within a buy range after surpassing a 21.94 entry in a flat base. Investors typically look to make purchases up to 5% above the initial entry point. If the stock surpasses that range, it is recommended to wait for another buying opportunity. Global Ship Lease saw an increase in both earnings and sales growth last quarter, with earnings per share rising from -2% to 16% and revenue increasing from 1% to 8%. The company is expected to announce its latest results on or around May 6. Among its peers in the Transportation-Ship industry group, Global Ship Lease stock ranks number 5, with Costamare (CMRE) holding the top spot at number 1.
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