The Relative Strength (RS) Rating for Advanced Micro Devices entered a new percentile Wednesday, with an increase from 72 to 81.
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IBD's proprietary RS Rating identifies technical performance by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 as they begin their biggest runs.
Advanced Micro Devices is now considered extended and out of buy range after clearing a 125.72 buy point in a second-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Taking a look at top and bottom line numbers, the company has posted rising EPS growth over the last four quarters. Revenue growth has also moved higher during the same period. The company is expected to release its next quarterly numbers on or around Aug. 5.
The company earns the No. 6 rank among its peers in the Electronics-Semiconductor Fabless industry group. Broadcom, Rambus and Monolithic Power Systems are among the top 5 highly rated stocks 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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