Sonos stock had its Relative Strength (RS) Rating upgraded from 69 to 75 Friday -- a welcome improvement, but still below the 80 or higher score you prefer to see.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the top-performing stocks tend to have an 80 or higher RS Rating as they launch their biggest climbs. See if Sonos stock can continue to rebound and clear that threshold.
Looking For The Best Stocks To Buy And Watch? Start Here
Is Sonos Stock A Buy?
Sonos stock has been rallying off the bottom the last five weeks. It reclaimed its 200-day moving average early December. Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to establish and enter a buying range in heavy trade.
While the speaker maker's top line growth fell last quarter from 0% to -4%, the bottom line grew 0%, up from -16% in the prior report.
Sonos stock holds the No. 2 rank among its peers in the Consumer Products-Electronics industry group. Sonos and Turtle Beach are also among the group's highest-rated stocks.
