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Silicon Motion Technology Stock Clears Technical Benchmark, Hitting 90-Plus RS Rating

By INVESTOR'S BUSINESS DAILY and JULIE MAK

Silicon Motion Technology stock saw a welcome improvement to its Relative Strength (RS) Rating on Friday, with an upgrade from 87 to 95.

When you're researching the best stocks to buy and watch, be sure to pay attention to 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 behavior over the trailing 52 weeks holds up against all the other stocks in our database.

Over 100 years of market history shows that the top-performing stocks tend to have an 80 or higher RS Rating at the beginning of a new run.

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

Is Silicon Motion Technology Stock A Buy?

The IBD 50 stock broke out earlier, but is now trading approximately 4% below the prior 96.99 entry from a cup without handle. In the case 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 pattern to form. Also keep in mind that the latest consolidation is a later-stage base, and such bases are more prone to failure. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.

 

The computer data storage firm reported 55% earnings growth in its most recent report, while sales growth came in at 33%.

Silicon Motion Technology stock holds the No. 1 rank among its peers in the Computer Software-Storage industry group. Pure Storage and Western Digital are also among the group's highest-rated stocks.

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Dive Deeper:
Cigna Stock Clears Key Benchmark, Hitting 90-Plus RS Rating
Cigna sees its Relative Strength Rating move into the elite 90-plus level.
M P Materials Clears Technical Benchmark, Hitting 90-Plus RS Rating
M P Materials shows improving price performance, earning an upgrade to its IBD Relative Strength Rating.
Service Corporation International Stock Shows Market Leadership With 91 RS Rating
A Relative Strength Rating upgrade for Service Corporation International shows improving technical performance.
Solar Enphase Energy Stock Scores Relative Strength Rating Upgrade
Enphase Energy shows improving price performance, earning an upgrade to its IBD Relative Strength Rating.
One subscription that gives you access to news from hundreds of sites
Cybersecurity Fortinet Stock Flashes Flashing Renewed Technical Strength
Fortinet sees its Relative Strength Rating reach the 80-plus level.
Chipmaker MaxLinear To Buy Silicon Motion For $3.8 Billion
Chipmaker MaxLinear on Thursday announced plans to buy Silicon Motion in a cash-and-stock deal worth $3.8 billion.
Get all your news in one place