The Relative Strength (RS) Rating for Alphabet stock entered a new percentile Wednesday, with an increase from 79 to 82. The search engine giant has held up well during the stock market correction and rising inflation.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating identifies technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains typically have an RS Rating of over 80 in the early stages of their moves.
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Is Alphabet Stock A Buy?
Alphabet stock is trying to complete a cup without handle with a 3,042.10 entry. See if the stock can clear the breakout price in heavy trade. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The Internet content provider showed 45% earnings growth in its most recent report, while sales growth came in at 32%.
Alphabet stock earns the No. 2 rank among its peers in the Internet-Content industry group. Alphabet and Facebook are also among the group's highest-rated stocks. For more on the four most prominent American tech companies, check out "FANG Stocks News: Facebook, Amazon, Netflix, Google".
