The Relative Strength (RS) Rating for NVIDIA jumped into a new percentile Wednesday, with a rise from 67 to 81.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique rating measures share price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners tend to have an 80 or higher RS Rating in the early stages of their moves.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to form a chart pattern and break out. Especially considering it has now cleared key moving averages.
Earnings growth increased last quarter from -51% to -50%. But sales fell from 3% to -17%.
NVIDIA earns the No. 13 rank among its peers in the Electronics-Semiconductor Fabless industry group. Impinj and Broadcom are also among the group's highest-rated stocks.
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