Micron Technology had its Relative Strength (RS) Rating upgraded from 69 to 78 Wednesday — a welcome improvement, but still shy of the 80 or better score you look for.
IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the best stocks tend to have an RS Rating of at least 80 in the early stages of their moves. See if Micron Technology can continue to show renewed price strength and hit that benchmark.
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While the stock is not near a proper entry right now, see if it manages to form and break out from a proper base.
The company reported 0% EPS growth in the latest quarterly report, while sales growth came in at 93%.
The company earns the No. 2 rank among its peers in the Computer Software-Storage industry group. Western Digital is the No. 1-ranked stock within the group.
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