CEVA had its Relative Strength (RS) Rating upgraded from 90 to 93 Friday.
IBD's unique RS Rating measures technical performance by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an RS Rating of over 80 as they launch their largest price moves.
How To Use Stock Charts To Stay Profitable And Protected
CEVA has moved more than 5% past a 24.87 entry in a first-stage cup with handle, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
While EPS growth declined in the prior quarter from 56% to 10%, the top line rose 21%, up from 13% in the previous report.
The company holds the No. 5 rank among its peers in the Electronics-Semiconductor Fabless industry group. Broadcom is the top-ranked stock within the group.
RELATED:
Chip Stocks To Watch And Semiconductor Industry News
IBD Stock Rating Upgrades: Rising Relative Strength
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
