When building your watchlist, look for stocks with an 80 or higher RS Rating. Search giant Alphabet now meets that criteria, with an increase from 75 to 82 Wednesday. Alphabet stock hit a record high Wednesday.
The exclusive Relative Strength Rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the best stocks typically have an RS Rating north of 80 in the early stages of their moves.
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Alphabet Soars Amid Double-Digit Profit, Sales Growth
As reported earlier, Alphabet stock hit an all-time high above 195 on Wednesday, rising more than 5% after the company announced its latest artificial intelligence tool, Gemini 2.0.
GOOGL is now considered extended and out of buy range after clearing a 182.49 buy point in a third-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Earnings grew 28% in the company's latest report, to $2 per share, on a 15% hike in revenue to 88.3 billion. The prior three quarters its EPS climbed 42%, 53% and 35%. Revenue rose 13%, 15% and 14% during that period.
In Top 3% For Profit Growth
Alphabet has a 95 Composite Rating, putting it in the top 5% of stocks overall. Reflecting its strong profit growth it boasts a near-perfect 97 EPS Rating.
Alphabet's D+ Accumulation/Distribution Rating shows that funds are selling more shares than buying. Look for that to improve to a C or better. However, the number of funds holding GOOGL stock rose from 7,338 in the December 2023-ended quarter to 7,601 in its latest report.
Meanwhile, Alphabet earns the No. 5 rank among its peers in the 69-stock Internet-Content industry group. Full Truck Alliance is the No. 1-ranked stock in the group.
Please follow James DeTar on Twitter @JimDeTar
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