The Relative Strength (RS) Rating for Philip Morris International jumped into a new percentile Monday, with an increase from 81 to 89. The tobacco maker is holding up well in this stock market correction.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique rating identifies price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
History shows that the best stocks typically have an RS Rating of above 80 as they begin their biggest runs.
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Is Philip Morris Stock A Buy?
Philip Morris International stock is trying to complete a cup without handle with a 106.61 entry. See if the stock can clear the breakout price in volume at least 40% higher than normal. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips. Also, check out "Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks."
The tobacco maker reported 8% earnings growth in the latest quarterly report, while sales growth came in at 6%. The next quarterly numbers are expected on or around Feb. 4.
Philip Morris International holds the No. 4 rank among its peers in the Tobacco industry group. British American Tobacco and Vector are also among the group's highest-rated stocks.
