In a welcome move, Advanced Micro Devices saw its Relative Strength Rating rise from 70 to 74 on Monday.
This exclusive rating from Investor's Business Daily tracks price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the top-performing stocks tend to have an RS Rating of at least 80 as they launch their largest price moves. See if Advanced Micro Devices can continue to rebound and clear that threshold.
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Advanced Micro Devices has climbed more than 5% past a 125.72 entry in a second-stage cup with handle, meaning it's now out of a proper buy range. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Top and bottom line growth moved higher last quarter. Earnings were up 19%, compared to 3% in the prior report. Revenue increased from 2% to 9%. Keep an eye out for the company's next round of numbers on or around Oct. 29.
Advanced Micro Devices earns the No. 8 rank among its peers in the Electronics-Semiconductor Fabless industry group. Broadcom, NVIDIA and Impinj are among the top 5 highly rated stocks within the group.
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