On Tuesday, Best Buy stock got a positive adjustment to its Relative Strength (RS) Rating, from 68 to 73.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks compares to other publicly traded companies.
Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an RS Rating of at least 80 as they launch their largest runs. See if Best Buy stock can continue to rebound and hit that benchmark.
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Is Best Buy Stock A Buy?
Best Buy stock is building a cup with handle with an 83.49 buy point. See if it can break out in volume at least 40% higher than normal.
The electronics retailer reported negative growth for both sales and earnings last quarter.
Best Buy stock holds the No. 2 rank among its peers in the Retail-Consumer Electronics industry group. GameStop Cl A and are also among the group's highest-rated stocks.
