On Monday, Microchip Technology stock earned a positive adjustment to its Relative Strength (RS) Rating, from 67 to 76.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the best stocks typically have an RS Rating of above 80 in the early stages of their moves. See if Microchip Technology stock can continue to show renewed price strength and clear that threshold.
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Is Microchip Technology Stock A Buy?
Microchip Technology broke out earlier, but has fallen back below the prior 94.19 entry from a flat base. If a stock you're watching climbs above a buy point then retreats 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new pattern and breakout. Also keep in mind that the most recent consolidation is a later-stage base, and those involve more risk.
The chipmaker posted negative growth for both sales and earnings last quarter. The company is expected to report its next quarterly numbers on or around May 6.
Microchip Technology stock earns the No. 5 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Taiwan Semiconductor ADR is the top-ranked stock within the group. For more industry news, check out "Chip Stocks To Watch And Semiconductor Industry News."
