Apple stock is now considered extended and out of buy range after clearing a 137.17 buy point in a third-stage cup without handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor’s Business Daily tracks share price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price behavior over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains tend to have an 80 or higher RS Rating as they launch their biggest climbs. See if Apple stock can continue to show renewed price strength and hit that benchmark.
On Monday, Apple was IBD’s Stock of the Day as it traded near an all-time high.
Apple showed 100% EPS growth in its most recent report in late July, while sales growth came in at 36%.
Apple stock holds the No. 1 rank among its peers in the Telecom-Consumer Products industry group.
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