As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD’s proprietary RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock’s price performance over the last 52 weeks compares to the rest of the market.
Decades of market research shows that the stocks that go on to make the biggest gains often have an 80 or higher RS Rating as they begin their biggest price moves. See if Advanced Micro Devices can continue to show renewed price strength and clear that threshold.
The IBD Big Cap 20 stock has moved more than 5% past a 95.54 entry in a first-stage cup with handle, meaning it’s now out of a proper buy range. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
In terms of top and bottom line numbers, Advanced Micro Devices has posted rising EPS growth in each of the last two reports. Revenue gains have also increased during the same period.
The company holds the No. 1 rank among its peers in the Electronics-Semiconductor Fabless industry group.
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