When considering what names to put on your watch list, focus on stocks with an 80 or higher RS Rating. Microchip Technology stock just cleared that benchmark with an upgrade from 80 to 84.
IBD's unique RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research reveals that the market's biggest winners typically have an RS Rating of above 80 in the early stages of their moves.
Hone Your Stock-Picking Skills By Focusing On These Factors
Is Microchip Technology Stock A Buy?
Microchip Technology stock is now considered extended and out of buy range after clearing a 94.19 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 line.
The chipmaker posted negative growth for both sales and earnings last quarter.
Microchip Technology stock holds the No. 5 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Taiwan Semiconductor ADR is the top-ranked stock within the group. For more industry news, check out "Chip Stocks To Watch And Semiconductor Industry News."
