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 Flex Ltd stock, which saw a positive improvement to its Relative Strength (RS) Rating on Friday, with an upgrade from 80 to 90.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength. IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the market's biggest winners often have an RS Rating north of 80 in the early stages of their moves.
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Is Flex Ltd Stock A Buy?
Flex Ltd stock is working on a consolidation with a 25.22 buy point. See if it can clear the breakout price in volume at least 40% above average. Keep in mind that it's a later-stage consolidation, and those entail more risk.
The company reported 10% EPS growth last quarter, while sales growth came in at 9%.
Flex Ltd stock earns the No. 1 rank among its peers in the Electronics-Contract Manufacturing industry group. Jabil and Kimball Electronics are also among the group's highest-rated stocks.
