Tower Semiconductor saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, rising from 67 to 75.
IBD's unique rating tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
History shows that the stocks that go on to make the biggest gains often have an RS Rating north of 80 as they begin their largest price moves. See if Tower Semiconductor can continue to show renewed price strength and hit that benchmark.
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Tower Semiconductor is now considered extended and out of buy range after clearing a 34.74 buy point in a first-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Regarding fundamentals, Tower Semiconductor has posted rising EPS growth in each of the last four reports. Sales growth has also risen during the same period.
The company earns the No. 3 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. MACOM Tech Solutions 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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