Chipmaker Broadcom Stock Scores Rising Relative Strength

Broadcom (AVGO) stock saw a positive improvement to its Relative Strength (RS) Rating on Thursday, rising from 70 to 74.

When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.

This unique rating measures technical performance by showing how a stock’s price action over the last 52 weeks compares to that of the other stocks in our database.

Over 100 years of market history reveals that the best stocks often have an RS Rating north of 80 in the early stages of their moves. See if Broadcom can continue to show renewed price strength and hit that benchmark.

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Is Broadcom Stock A Buy?

Broadcom is still inside a buy range after clearing a 495.24 entry in a consolidation. Once a stock moves 5% or higher beyond the initial entry, it’s considered out of a proper buy zone. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips. Also, check out “Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks.”

Solid Earnings, Sales Growth

In terms of top and bottom line numbers, the chipmaker has posted seven quarters of rising earnings growth. Revenue growth has also moved higher during the same period.

Broadcom stock earns the No. 10 rank among its peers in the Electronics-Semiconductor Fabless industry group. Advanced Micro Devices (AMD) and Lattice Semiconductor (LSCC) are also among the group’s highest-rated stocks. For more industry news, check out “Chip Stocks To Watch And Semiconductor Industry News.”


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