Wolfspeed saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 87 to 99.
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This exclusive rating from Investor's Business Daily measures share price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the best stocks tend to have an 80 or higher RS Rating at the beginning of a new price run.
While Wolfspeed is not near an ideal buy point right now, see if it goes on to form and break out of a proper consolidation.
The company posted 0% earnings growth in the latest quarterly report. Sales rose -2%.
The company earns the No. 17 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Taiwan Semiconductor ADR, Analog Devices and Tower Semiconductor 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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