The Relative Strength (RS) Rating for Ambarella stock jumped into a new percentile Monday, as it got a lift from 68 to 75.
IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks compares to the rest of the market.
Decades of market research shows that the stocks that go on to make the biggest gains often have an RS Rating of above 80 in the early stages of their moves. See if Ambarella stock can continue to show renewed price strength and clear that threshold.
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Is Ambarella Stock A Buy?
Ambarella stock has moved more than 5% past a 59.99 entry in a first-stage cup with handle, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The chipmaker reported 0% earnings growth in its most recent report. Revenue increased -12%.
Ambarella stock earns the No. 22 rank among its peers in the Electronics-Semiconductor Fabless industry group. Arm Holdings ADR, Broadcom and NVIDIA are among the top 5 highly rated stocks within the group. For more industry news, check out "Chip Stocks To Watch And Semiconductor Industry News."
