On Tuesday, Arteris cleared a key technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 81, up from 78 the day before.
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This proprietary rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against the rest of the market.
Decades of market research shows that the market's biggest winners often have an 80 or higher RS Rating in the early stages of their moves.
Arteris has risen more than 5% past a 9.31 entry in a first-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.
Arteris reported 0% earnings growth in its most recent report. Revenue gains came in at 13%.
Arteris earns the No. 25 rank among its peers in the Electronics-Semiconductor Fabless industry group. Astera Labs, Credo Tech Group and NVIDIA 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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