When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Palantir Technologies (PLTR), which had its Relative Strength (RS) Rating upgraded from 80 to 83 Wednesday. Check out “Is PLTR Stock A Buy Right Now? Here’s What Palantir Earnings, Charts Show.”
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD’s unique rating identifies price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price movement over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the market’s biggest winners tend to have an RS Rating north of 80 as they launch their biggest runs.
Palantir Technologies stock has been living below its 50-day moving average the past three months and consolidating, amid a tech selloff. Now is not an ideal time to jump in since it isn’t near a proper buy zone, but see if the stock manages move higher and break out on huge volume. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.
The computers software firm’s earnings grew 500% last quarter, up from 0% in the prior report. Revenue also increased, from 40% to 49%.
Palantir Technologies stock earns the No. 46 rank among its peers in the Computer Software-Enterprise industry group. Concentrix Corp (CNXC) and Five9 (FIVN) are also among the group’s highest-rated stocks.
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