On Thursday, ACM Research Cl A reached a noteworthy technical benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 94, up from 88 the day before.
This unique rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Decades of market research shows that the top-performing stocks often have an RS Rating of at least 80 at the beginning of a new run.
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The IBD 50 stock is trading within a buy range after climbing above a 26.32 buy point in a cup without handle. Once a stock moves 5% or higher beyond the initial entry, it's considered out of a proper buying area.
Earnings grew 30% last quarter, up from 11% in the prior report. Revenue also increased, from 21% to 31%.
ACM Research Cl A earns the No. 2 rank among its peers in the Electronics-Semiconductor Equipment industry group. Nova 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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