Enovix had its Relative Strength (RS) Rating upgraded from 77 to 84 Monday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating tracks market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
History reveals that the market's biggest winners typically have an RS Rating of above 80 in the early stages of their moves.
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While now is not an ideal time to invest, see if the stock is able to offer and clear an appropriate buy point by building a new actionable pattern. The consolidation pattern currently shown on a MarketSmith chart is no longer valid, as the stock gave back all gains from the recent breakout.
Enovix posted 0% EPS growth in the latest quarterly report, while sales growth came in at -99%.
The company holds the No. 25 rank among its peers in the Electrical Power/Equipment industry group. Vertiv Holdings and Powell Industries are also among the group's highest-rated stocks.
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