Advanced Micro Devices had its Relative Strength (RS) Rating upgraded from 88 to 91 Thursday.
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This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the best stocks often have an RS Rating of over 80 at the beginning of a new climb.
The stock, which is on the IBD Big Cap 20 , has climbed more than 5% past a 125.72 entry in a second-stage cup with handle, meaning it's now out of a proper buy zone. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
In terms of fundamentals, Advanced Micro Devices has posted four quarters of accelerating earnings growth. Revenue gains have also increased over the same time frame. Advanced Micro Devices is expected to report its next quarterly numbers on or around Aug. 5.
The company holds the No. 2 rank among its peers in the Electronics-Semiconductor Fabless industry group. Credo Tech Group is the top-ranked stock 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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