Onto Innovation stock saw a positive improvement to its Relative Strength (RS) Rating on Thursday, rising from 78 to 82.
This exclusive rating from Investor's Business Daily measures share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the best stocks typically have an 80 or better RS Rating as they begin their biggest price moves.
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Is Onto Innovation Stock A Buy?
Onto Innovation stock cleared a cup-shaped base on Jan. 22 with 226.73 but quickly pulled back. While the tech stock is not near a proper entry right now, see if it goes on to form and break out of a proper consolidation.
The semiconductor manufacturing tool supplier showed 40% earnings growth last quarter, while sales growth came in at 22%. Keep an eye out for the company's next round of numbers on or around Feb. 6.
Onto Innovation stock earns the No. 3 rank among its peers in the Electronics-Semiconductor Equipment industry group. Nova is the No. 1-ranked stock within the group.
