One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Best Buy just hit that mark, with a jump from 80 to 83 Monday.
IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
History shows that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 in the early stages of their moves.
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Best Buy is trying to complete a consolidation with a 103.71 buy point. See if the stock can clear the breakout price in volume at least 40% above average.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 10%, compared to 4% in the prior report. Revenue increased from -7% to -3%. Look for the next report on or around Nov. 26.
Best Buy earns the No. 2 rank among its peers in the Retail-Consumer Electronics industry group. Best Buy is the top-ranked stock within the group.
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