On Thursday, SiTime hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 93, up from 84 the day before.
This proprietary rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against all other stocks in our database.
History reveals that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating in the early stages of their moves.
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SiTime has risen more than 5% past a 147.82 entry in a first-stage cup with handle, meaning it's now out of a proper buy zone. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
SiTime reported 100% EPS growth last quarter, while sales growth came in at 61%.
SiTime holds the No. 4 rank among its peers in the Electronics-Semiconductor Fabless industry group. Broadcom is the top-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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