Enovix saw a welcome improvement to its Relative Strength (RS) Rating on Friday, rising from 63 to 76.
IBD's proprietary rating tracks price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains typically have an RS Rating of over 80 in the early stages of their moves. See if Enovix can continue to rebound and hit that benchmark.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to offer and clear an appropriate buy point.
The company reported 0% EPS growth in its most recent report, while sales growth came in at 2,060%.
Enovix earns the No. 23 rank among its peers in the Electrical Power/Equipment industry group. Vertiv Holdings, American Superconductor and Eaton Corp. PLC are among the top 5 highly rated stocks within the group.
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