When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Blackstone, which saw a welcome improvement to its Relative Strength (RS) Rating on Friday, with an increase from 90 to 93.
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 showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
History shows that the market's biggest winners often have an RS Rating of above 80 as they begin their biggest runs.
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Blackstone has moved more than 5% past a 116.78 entry in a first-stage cup without handle, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
BX Stock Earnings
While the company's top line growth fell last quarter from 347% to 140%, earnings-per-share grew 7,200%, up from 0% in the prior report.
The company holds the No. 1 rank among its peers in the Finance-Investment Management industry group. Blue Owl Capital and Ares Management are also among the group's highest-rated stocks.
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