In a welcome move, Qualcomm saw its Relative Strength Rating rise from 61 to 73 on Friday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the best stocks often have an RS Rating north of 80 as they begin their biggest runs. See if Qualcomm can continue to rebound and hit that benchmark.
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Qualcomm is not currently showing a potential buy point. It has had a steep decline, but recent movement upward shows it crossing key moving averages. See if the stock continues this trend and goes on to form a chart pattern that could launch a new move.
Qualcomm saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 49% to 69%. Revenue rose from 30% to 41%. The company is expected to report its latest results on or around Jul. 28.
Qualcomm holds the No. 1 rank among its peers in the Electronics-Semiconductor Fabless industry group.
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