GoodRx Holdings (GDRX) was rated a "new sector weight" by a sell-side firm Friday. Let's check out the charts and indicators to see if this coverage will help the stock.
In the daily bar chart of GDRX, below, we can see the punishing slide in price from October to June. The shares have traded sideways since June with a temporary rally in August. GDRX has been unable to make a higher low as a stepping stone towards a price increase. The slope of the 50-day moving average line is neutral but the 200-day line remains negative.
The On-Balance-Volume (OBV) line shows a decline into early August and only modest improvement since. The Moving Average Convergence Divergence (MACD) oscillator has been hugging the zero line and thus not showing us any trend strength.