On Wednesday, Enovix got a positive adjustment to its Relative Strength (RS) Rating, from 69 to 80.
IBD's proprietary RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the top-performing stocks typically have an 80 or higher RS Rating as they launch their biggest climbs.
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While it's not currently an ideal time to invest, see if the stock manages to offer and clear a proper buy point.
Enovix showed 0% EPS growth last quarter, while sales growth came in at 2,060%. The next quarterly results are expected on or around Feb. 19.
The company earns the No. 25 rank among its peers in the Electrical Power/Equipment industry group. Vertiv Holdings, American Superconductor and Powell Industries are among the top 5 highly rated stocks within the group.
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