When building your watch list, focus on stocks with an 80 or higher RS Rating. Warner Bros. Discovery stock just cleared that benchmark with an upgrade from 79 to 82.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an RS Rating of over 80 as they begin their biggest climbs.
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Is Warner Bros. Discovery Stock A Buy?
While Warner Bros. Discovery stock is not near a proper buying range right now, see if it is able to form and break out of a proper base.
The media firm showed 0% earnings growth last quarter. Revenue rose 245%.
Warner Bros. Discovery stock holds the No. 9 rank among its peers in the Media-Radio/TV industry group. TEGNA and Gray Television are also among the group's highest-rated stocks.
