The Relative Strength (RS) Rating for Nvidia entered a new percentile last Tuesday, with an increase from 70 to 80. Since then, however, the RS has fallen back to 63. Yesterday the price closed near the bottom on heavier traffic. Going into Friday's trading, volume is trending higher as the stock tries to hold its current position.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's unique rating identifies share price performance 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.
Decades of market research reveals that the top-performing stocks tend to have an 80 or higher RS Rating as they begin their biggest price moves.
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Nvidia is not currently showing a potential buy point. It is still living below key moving averages. See if the stock goes on to build a base that could kick off a new climb, particularly once growth stocks return to favor.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 69%, compared to 60% in the prior report. Revenue increased from 50% to 53%. The next earning report is scheduled for May 25 according to the the companies website.
The company earns the No. 4 rank among its peers in the Electronics-Semiconductor Fabless industry group. Rambus and Alpha & Omega Semiconductor are also among the group's highest-rated stocks.
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