The Relative Strength (RS) Rating for NVIDIA entered a new percentile Monday, with an increase from 71 to 81.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 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 80 or higher RS Rating in the early stages of their moves.
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NVIDIA is building a cup without handle with a 188.00 entry. on a MarketSmith weekly chart. It is getting close to the entry point today, so let's see if the stock can break out in volume at least 40% above average.
Earnings growth increased in the company's most recent report from -51% to -50%, but sales fell from 3% to -17%. Look for the next report on or around Feb. 22.
The company holds the No. 13 rank among its peers in the Electronics-Semiconductor Fabless industry group. Mobileye Global and Impinj are also among the group's highest-rated stocks.
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