One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Microchip Technology now clears that threshold, with a jump from 69 to 80 Monday.
Hone Your Stock-Picking Skills By Focusing On These Factors
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the top-performing stocks typically have an RS Rating of at least 80 in the early stages of their moves.
While the stock is not near a proper buy zone right now, see if it manages to form and break out of a proper chart pattern.
Although earnings and sales growth came in at -81% and -27%, respectively, in the latest report, that marked one quarter of acceleration for EPS and two for sales.
The company earns the No. 13 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. MACOM Tech Solutions, Taiwan Semiconductor ADR and Analog Devices 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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