On Friday, Advanced Energy Inds cleared a noteworthy performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 80 the day before.
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IBD's proprietary RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Decades of market research shows that the best-performing stocks tend to have an RS Rating north of 80 as they launch their biggest runs.
Advanced Energy Inds is within a buy zone after clearing a 121.32 entry in a cup with handle. The proper buying range extends to 5% above the initial entry. Once a stock hits that benchmark, it's best to wait for it to set up another buying opportunity.
Taking a look at revenue and profit performance, Advanced Energy Inds has posted rising EPS growth over the last two quarters. Top line growth has also increased over the same time frame.
Advanced Energy Inds earns the No. 4 rank among its peers in the Electronics-Semiconductor Equipment industry group. KLA is the top-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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