Mobileye Global had its Relative Strength (RS) Rating upgraded from 87 to 91 Thursday before the market open. This recent IPO stock has been on everyone's radar with the current focus on autonomous driving.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's proprietary RS Rating identifies 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.
Decades of market research shows that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 as they launch their biggest climbs.
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Mobileye Global is working on a consolidation with a 48.11 buy point. Unfortunately, yesterday's big move has been followed by an almost complete give-back today. On the positive side, today's volume is trending much lower. See if the stock can reverse up, hit the pivot and break out in volume at least 40% higher than normal.
The company posted negative growth for both sales and earnings last quarter.
Mobileye Global holds the No. 5 rank among its peers in the Electronics-Semiconductor Fabless industry group.
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