When building your watch list, look for stocks with an 80 or higher RS Rating. Nova now meets that criteria, with a jump from 77 to 82 Tuesday.
IBD's unique RS Rating tracks market leadership by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
Decades of market research shows that the top-performing stocks tend to have an RS Rating of above 80 in the early stages of their moves.
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Nova is building a consolidation with a 247.21 entry. See if the stock can clear the breakout price in volume at least 40% above average.
While earnings growth declined in the company's most recent performance report from 52% to 41%, the top line rose 39%, up from 28% in the prior report.
The company earns the No. 1 rank among its peers in the Electronics-Semiconductor Equipment industry group. Onto Innovation and Atomera are also among the group's highest-rated stocks.
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