Qualcomm stock saw a welcome improvement to its Relative Strength (RS) Rating on Monday, with an upgrade from 67 to 77.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique rating identifies share price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the market's biggest winners often have an RS Rating north of 80 as they begin their largest runs. See if Qualcomm can continue to rebound and clear that threshold.
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Is Qualcomm Stock A Buy?
Qualcomm stock has been trading below its 200-day moving average. While the chipmaker stock is not near a proper entry right now, see if it is able to form and break out of a proper base. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The semiconductor company reported 54% earnings growth in its most recent report. Revenue increased 36%.
Qualcomm stock holds the No. 3 rank among its peers in the Electronics-Semiconductor Fabless industry group. Lattice Semiconductor and Broadcom are also among the group's highest-rated stocks. For more industry news, check out, "Chip Stocks To Watch And Semiconductor Industry News."
