Microchip Technology stock had its Relative Strength (RS) Rating upgraded from 66 to 74 Monday -- a welcome improvement, but still shy 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 tracks market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
History reveals that the market's biggest winners typically have an RS Rating of over 80 as they begin their biggest price moves. See if Microchip Technology stock can continue to show renewed price strength and hit that benchmark.
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Is Micron Technology Stock A Buy?
Micron Technology stock is currently still trading within in a double-bottom pattern. While it's not currently an ideal time to buy shares due to the stock market correction, see if the data storage stock manages to offer and clear a proper buy point.
The data storage firm reported 20% earnings growth in its most recent report, while sales growth came in at 17%.
Microchip Technology stock holds the No. 2 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Microchip Technology and MACOM Tech Solutions are also among the group's highest-rated stocks. For more industry news, check out "Chip Stocks To Watch And Semiconductor Industry News."
