Micron Technology saw a positive improvement to its Relative Strength (RS) Rating on Friday, with an upgrade from 73 to 84.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating measures market leadership by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
History reveals that the best stocks tend to have an RS Rating north of 80 as they launch their biggest runs.
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Micron Technology is still inside a buying range after breaking past a 70.50 entry in a double bottom. The proper buying range is up to 5% above the initial entry. While down today, it is holding the bulk of the gain from the previous two days.
The company posted 0% EPS growth in the latest quarterly report. Revenue rose -57%.
The company holds the No. 5 rank among its peers in the Computer Software-Storage industry group. NetApp and SMART Global Holdings are also among the group's highest-rated stocks.
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