On Friday, Arteris reached a noteworthy performance benchmark, with its Relative Strength (RS) Rating entering into the 80-plus percentile with an improvement to 80, up from 62 the day before.
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IBD's proprietary rating identifies price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the best-performing stocks typically have an RS Rating north of 80 in the early stages of their moves.
Arteris is now considered extended and out of buy range after clearing a 9.31 buy point in a first-stage consolidation. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Arteris posted 0% earnings growth in the latest quarterly report, while sales growth came in at 13%.
The company earns the No. 25 rank among its peers in the Electronics-Semiconductor Fabless industry group. Astera Labs, Broadcom and Credo Tech Group 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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