When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Carnival, which had its Relative Strength (RS) Rating upgraded from 62 to 80 Wednesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
Decades of market research shows that the market's biggest winners often have an 80 or better RS Rating in the early stages of their moves.
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Carnival stock is building a double bottom with a 24.99 entry. See if the stock can clear the breakout price in heavy volume.
Earnings grew 14% last quarter, up from 0% in the prior report. Revenue also increased, from 1,661% to 3,685%.
Carnival stock holds the No. 21 rank among its peers in the Leisure-Services industry group. Cedar Fair and Hilton Grand Vacations are also among the group's highest-rated stocks.
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