In a welcome move, Intuit saw its Relative Strength Rating improve from 70 to 77 on Friday. Watch for it to break through into the 80s.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 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 often have an RS Rating of above 80 in the early stages of their moves. See if Intuit can continue to show renewed price strength and hit that benchmark.
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Intuit is trying to complete a reasonably long consolidation with a 490.83 buy point. See if the stock can continue moving higher, then break out in heavy trade.
The company reported 17% earnings growth last quarter. Sales increased 7%.
Intuit holds the No. 5 rank among its peers in the Computer Software-Financial industry group. Fair Isaac and Vertex are also among the group's highest-rated stocks.
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