Qualcomm stock saw a positive improvement to its Relative Strength (RS) Rating on Friday, with an upgrade from 65 to 74.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
This unique rating measures 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 the rest of the market.
Over 100 years of market history reveals that the best stocks typically have an RS Rating north of 80 as they launch their largest runs. See if Qualcomm can continue to show renewed price strength and clear that threshold.
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Is Qualcomm Stock A Buy?
Qualcomm stock has been trading below its 200-day moving average. While chipmaker is not near an ideal buy zone right now, see if it goes on to form and break out of a proper base.
The chipmaker reported 54% EPS growth last quarter. Sales gains came in at 36%.
Qualcomm stock earns the No. 4 rank among its peers in the Electronics-Semiconductor Fabless industry group. Broadcom and Rambus are also among the group's highest-rated stocks. For more industry news, check out "Chip Stocks To Watch And Semiconductor Industry News."
