On Tuesday, Best Buy stock earned a positive adjustment to its Relative Strength (RS) Rating, from 64 to 77.
As you try to find 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 last 52 weeks compares to other publicly traded companies.
Decades of market research reveals that the market's biggest winners often have an RS Rating north of 80 as they launch their biggest climbs. See if Best Buy stock can continue to show renewed price strength and clear that threshold.
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Is Best Buy Stock A Buy?
Best Buy stock is building a consolidation with a 93.32 buy point. See if the retail stock can clear the breakout price in heavy trade.
The electronics retailer posted 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 and ATRenew are also among the group's highest-rated stocks.
