On Tuesday, Enovix received a positive adjustment to its Relative Strength (RS) Rating, from 84 to 92.
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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 the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains typically have an RS Rating of above 80 at the beginning of a new run.
Enovix is not currently offering a proper buying opportunity. See if the stock goes on to build a sound pattern that could kick off a new price move.
Enovix reported 0% earnings growth last quarter. Sales gains came in at -3%.
Enovix holds the No. 18 rank among its peers in the Electrical Power/Equipment industry group. Vertiv Holdings, American Superconductor and Eaton Corp. PLC 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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