On Friday, Alphabet stock reached a noteworthy technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 79 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 in the early stages of their moves.
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Is Alphabet Stock A Buy?
Alphabet stock is trying to complete a flat base with a 129.04 buy point. See if the stock can clear the breakout price in volume at least 40% higher than normal.
Top and bottom line growth moved higher last quarter. Earnings were up -11%, compared to -19% in the prior report. Revenue increased from 1% to 3%. Look for the next report on or around Jul. 25.
Alphabet stock earns the No. 11 rank among its peers in the Internet-Content industry group. Opera ADR and Weave Communications are also among the group's highest-rated stocks.
