On Tuesday, Visa stock hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 81, up from 78 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This proprietary rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
Decades of market research shows that the best stocks often have an RS Rating north of 80 in the early stages of their moves.
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Is Visa Stock A Buy?
While Visa stock is not near an ideal buy zone right now, see if the payment stock manages to form and break out of a proper consolidation. The stock market outlook is currently in correction. It's better to wait for the an uptrend to resume before adding stocks again.
Earnings growth declined last quarter from 17% to 9%. But revenue moved higher, from 11% to 12%. Keep an eye out for the company's next round of numbers on or around Oct. 25.
Visa stock earns the No. 6 rank among its peers in the Finance-Card/Payment Processing industry group. Paymentus Holdings and Mastercard are also among the group's highest-rated stocks.
