When building your watch list, look for stocks with an 80 or higher RS Rating. Allegro MicroSystems is one stock that just reached the mark, now earning a score of 83.
IBD's unique RS Rating tracks market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
History reveals that the best-performing stocks typically have an RS Rating north of 80 in the early stages of their moves.
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Allegro MicroSystems is trying to complete a cup without handle with a 33.26 buy point. See if the stock can clear the breakout price in heavy trading.
Although earnings and sales growth came in at -78% and -30%, respectively, in the latest report, that marked two straight quarters of acceleration for EPS and two for revenue.
The company holds the No. 12 rank among its peers in the Electronics-Semiconductor Fabless industry group. Broadcom, Rambus and CEVA are among the top 5 highly rated stocks 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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