Best Buy Stock Shows Rising Strength As The Top-Ranked Electronics Superstore Chain Keeps Hitting Fresh All-Time Highs

Best Buy (BBY) is the only large, independent electronics superstore chain after the demise of other high-profile chains such as Fry’s Electronics and Good Guys. On Monday, Best Buy stock’s Relative Strength (RS) Rating climbed to 73, up from 66 the day before.

The 73 RS Rating means that Best Buy stock has outperformed 73% of all stocks over the past year. The best-performing stocks typically have an 80 or higher RS Rating as they launch their largest runs. See if Best Buy can continue to show renewed price strength and clear that threshold.

Best Buy Stock In Top 10% On Fundamentals

Among its other key ratings, Minneapolis suburb-headquartered Best Buy has a best possible 99 EPS Rating, reflecting strong recent and long-term profit acceleration. Additionally, Best Buy stock boasts a 90 Composite Rating, putting it in the top 10% of stocks on technical and fundamental strength. And bullishly, it has an A Accumulation/Distribution Rating, meaning institutional investors are strongly buying its stock.

The company posted 74% earnings growth in its most recent report, to $2.98 per share. It was its fourth quarter of double- and even triple-digit profit growth. Sales last quarter grew 20% to $11.8 billion, a good growth rate for such a large company. The company is expected to report its latest performance numbers on or around Nov. 24.

Looking For The Best Stocks To Buy And Watch? Start Here

Best Buy stock is still inside a buy zone after climbing above a 128.67 entry in a consolidation. Once a stock moves 5% or higher beyond the initial entry, it’s considered out of buy range.

Best Buy stock holds the No. 1 rank among its peers in the Retail-Consumer Electronics industry group. Conn’s (CONN) is No. 2 and meme stock GameStop (GME) is No. 3

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

This proprietary Relative Strength Rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock’s price performance over the trailing 52 weeks compares to other publicly traded companies.

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