ACM Research Stock Sees Big Jump In Relative Strength
When building your watchlist, focus on stocks with an 80 or higher RS Rating. ACM Research now meets that criteria, with an increase from 63 to 89 Wednesday. Is ACM Research stock on your radar?
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the best-performing stocks often have an RS Rating of at least 80 as they launch their biggest runs. So an 89 RS Rating for ACM Research stock is noteworthy.
Is ACM Research Stock A Buy?
ACM Research stock broke out earlier, but has fallen back below the prior 108.82 entry from a consolidation.
In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new base to take shape. Also understand that the most recent pattern is a later-stage base, and such bases are more prone to failure.
ACM Research posted a 34% contraction in earnings per share in the latest quarterly report, while sales growth came in at 38%.
The chip equipment company earns the No. 15 rank among its peers in the Electronics-Semiconductor Equipment industry group. ASML and KLA are also among the group's highest-rated stocks.