Microchip Technology had its Relative Strength (RS) Rating upgraded from 88 to 91 Wednesday.
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This unique rating tracks market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
History shows that the best stocks often have an RS Rating of over 80 at the beginning of a new climb.
Microchip Technology is not currently near a potential buying area. See if the stock goes on to build a sound pattern that could launch a new move.
Although earnings and sales growth came in at -81% and -27%, respectively, in the latest report, that marked one quarter of improvement for earnings and two for revenue. The company is expected to release its next quarterly numbers on or around Aug. 5.
The company holds the No. 16 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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