One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Axcelis Technologies now clears that threshold, with a jump from 77 to 81 Thursday.
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IBD's proprietary RS Rating measures market leadership by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
Decades of market research shows that the top-performing stocks tend to have an RS Rating of above 80 in the early stages of their moves.
While now is not an ideal time to buy shares, see if the stock manages to offer and clear an appropriate buy point.
The company posted -35% EPS growth in the latest quarterly report, while sales growth came in at -24%. The company is expected to report its latest earnings and sales numbers on or around Oct. 29.
The company holds the No. 16 rank among its peers in the Electronics-Semiconductor Equipment industry group. Lam Research, Advanced Energy Inds and Nova 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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