Ambarella stock had its Relative Strength (RS) Rating upgraded from 65 to 74 Wednesday -- a welcome improvement, but still short of the 80 or better score you look for.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
This unique rating identifies 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 reveals that the market's biggest winners often have an 80 or higher RS Rating as they launch their biggest price moves. See if Ambarella can continue to rebound and clear that threshold.
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Is Ambarella Stock A Buy?
Ambarella stock has risen more than 5% past a 76.70 entry in a first-stage cup with handle, meaning it's now out of a proper buy range. 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. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The chipmaker reported negative growth for both sales and earnings last quarter.
Ambarella stock holds the No. 19 rank among its peers in the Electronics-Semiconductor Fabless industry group. Impinj and Mobileye Global are also among the group's highest-rated stocks. For more industry news, check out "Chip Stocks To Watch And Semiconductor Industry News."
