Stock Upgrades: Ichor Shows Rising Relative Strength
When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Ichor, which had its Relative Strength (RS) Rating upgraded from 75 to 82 Wednesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating measures technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an 80 or better RS Rating in the early stages of their moves.
Ichor has moved more than 5% past a 36.08 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 chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 46% to 67%. Revenue rose from 20% to 27%.
Ichor holds the No. 18 rank among its peers in the Electronics-Semiconductor Equipment industry group. ASML Hldgs and KLA Tencor are also among the group's highest-rated stocks.