On Friday, SkyWater Technology reached a noteworthy performance benchmark, with its Relative Strength (RS) Rating jumping into the 90-plus percentile with an upgrade to 94, a rise from 79 the day before.
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IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners often have an 80 or higher RS Rating at the beginning of a new price run.
SkyWater Technology has climbed more than 5% past an 11.50 entry in a first-stage cup without handle, meaning it's now out of a proper buy zone. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company reported 0% EPS growth in the latest quarterly report, while sales growth came in at -37%.
The company holds the No. 11 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Taiwan Semiconductor ADR, MACOM Tech Solutions and Tower Semiconductor 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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