In a welcome move, Alphabet saw its Relative Strength Rating rise from 66 to 73 on Friday.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's proprietary RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research reveals that the best stocks typically have an 80 or higher RS Rating in the early stages of their moves. See if Alphabet Stock can continue to rebound and hit that benchmark.
See How IBD Helps You Make More Money In Stocks
While Alphabet is not near a proper buying range right now, see if it manages to form and break out from a proper consolidation. It is back above its 200-day moving average, with volume leveling off just below average.
Earnings Update
The company posted -19% earnings growth in its most recent report. Sales gains came in at 1%. Estimates for 2024 have recently been raised, which is a good sign going forward. The next earnings report is still a month away, due April 25.
Alphabet earns the No. 9 rank among its peers in the Internet-Content industry group. Meta Platforms is also among the group's highest-rated stocks.
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