Analog Devices stock had its Relative Strength (RS) Rating upgraded from 78 to 81 Wednesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating identifies technical performance by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
Decades of market research reveals that the market's biggest winners typically have an RS Rating of over 80 in the early stages of their moves.
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Is Analog Devices Stock A Buy?
Analog Devices stock is trading slightly below its previous 193.14 buy point and is not currently in the buy zone. See if the chipmaker stock goes on to build a sound pattern that could kick off a new price move.
The chipmaker showed 18% earnings growth in the latest quarterly report, while sales growth came in at 10%. The company is expected to report its latest results on or around Aug. 23.
Analog Devices stock earns the No. 3 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. STMicroelectronics and Analog Devices are also among the group's highest-rated stocks. For more industry news, check out "Chip Stocks To Watch And Semiconductor Industry News."
