NVIDIA saw its IBD SmartSelect Composite Rating rise to 96 Friday, up from 84 the day before. Coupled with a Relative Strength of 94.
The upgrade means the stock is now outperforming 96% of all other stocks in terms of key performance metrics and technical strength. The top-performing stocks tend to have a 95 or better grade as they kick off a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
NVIDIA is now out of buy range after breaking out from a 188.00 buy point in a cup without handle, according to the weekly chart on MarketSmith. It had a big cap-up yesterday in response to the most recent earnings report.
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Earnings Update
One weak spot is the company's 63 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of A shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.
In Q4, the company reported -33% EPS growth. It has now posted accelerating EPS gains for two consecutive quarters. Revenue growth fell to -21%, down from -17% in the prior quarter.
NVIDIA holds the No. 7 rank among its peers in the Electronics-Semiconductor Fabless industry group. Impinj, Rambus and Lattice Semiconductor are among the top 5 highly-rated stocks within the group.
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