The Relative Strength (RS) Rating for Qualcomm entered a new percentile Monday, with an increase from 79 to 85.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against that of all other stocks.
History reveals that the market's biggest winners typically have an 80 or better RS Rating in the early stages of their moves.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock manages to offer and clear a proper buy point. The stock has moved higher post-earnings, allowing it to clear key moving averages despite negative growth.
QCOM Earnings
Earnings growth moved up in the company's latest report from -39% to -32%, but revenue fell from -23% to -24%.
Qualcomm earns the No. 7 rank among its peers in the Electronics-Semiconductor Fabless industry group. Rambus and Advanced Micro Devices are also among the group's highest-rated stocks.
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