On Tuesday, Enovix hit an important technical milestone, with its Relative Strength (RS) Rating jumping into the 80-plus percentile with an improvement to 85, an increase from 73 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating measures technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
Decades of market research reveals that the stocks that go on to make the biggest gains often have an RS Rating of at least 80 in the early stages of their moves.
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Enovix is building a consolidation with a 15.48 buy point. It opened higher this morning and cleared the buy point briefly before falling back. See if it can regain the move up and clearly break out in volume at least 40% above average.
The company showed 0% EPS growth last quarter, while sales growth came in at 0%.
The company earns the No. 26 rank among its peers in the Electrical Power/Equipment industry group. Powell Industries and Vertiv Holdings are also among the group's highest-rated stocks.
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