When putting together your watch list, focus on stocks with an 80 or higher RS Rating. HP just cleared that benchmark with an upgrade from 78 to 82.
IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks compares to all the other stocks in our database.
Decades of market research reveals that the best-performing stocks tend to have an RS Rating north of 80 as they launch their biggest price moves.
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HP is working on a consolidation with a 39.52 entry. See if the stock can clear the breakout price in heavy trading.
Earnings growth slowed in the most recent report from 4% to -3%. But revenue gains moved higher, from -1% to 2%. The company is expected to report its latest earnings and sales numbers on or around Nov. 26.
HP holds the No. 3 rank among its peers in the Computer-Hardware/Peripherals industry group. IonQ is the top-ranked stock within the group.
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