On Wednesday, Nvidia (NVDA) earned a positive adjustment to its Relative Strength (RS) Rating, from 86 to 91. Nvidia stock also made moves gaining 5.4% in trading just before noon ET.
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When you’re researching the best stocks to buy and watch, be sure to pay attention to relative price strength. IBD’s proprietary rating identifies share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
History shows that the market’s biggest winners tend to have an RS Rating of above 80 at the beginning of a new climb.
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Should You Invest In Nvidia Stock?
While it’s not currently an ideal time to invest, see if Nvidia stock is able to establish and enter a buy zone in heavy volume.
Nvidia saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 60% to 69%. Revenue rose from 50% to 53%.
Nvidia stock earns the No. 5 rank among its peers in the Electronics-Semiconductor Fabless industry group. Alpha & Omega Semiconductor (AOSL) and Rambus (RMBS) are among the top 5 highly rated stocks within the group.
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Why Should You Use IBD’s Relative Strength Rating?
Source: https://www.investors.com/news/technology/nvidia-stock-shows-market-leadership-with-jump-to-91-rs-rating/?src=A00220&yptr=yahoo