Alphabet stock had its Relative Strength (RS) Rating upgraded from 63 to 77 Monday -- a welcome improvement, but still short of the 80 or higher score you prefer to see.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's unique RS Rating identifies market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
History shows that the stocks that go on to make the biggest gains tend to have an 80 or higher RS Rating in the early stages of their moves. See if Alphabet stock can continue to show renewed price strength and hit that benchmark.
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Is Alphabet Stock A Buy?
Alphabet stock broke out earlier, but has fallen back below the prior 106.69 entry from a cup with handle. If a stock you're tracking clears a buy point then declines 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new base and entry price. Also keep in mind that the most recent pattern is a later-stage base, and those involve more risk.
The content provider posted -19% EPS growth in its most recent report, while sales growth came in at 1%. The next quarterly results are expected on or around Apr. 25.
Alphabet stock earns the No. 6 rank among its peers in the Internet-Content industry group. Meta Platforms and Baidu ADR are also among the group's highest-rated stocks.
