On Wednesday, Ambarella got an upgrade to its Relative Strength (RS) Rating, from 80 to 85.
IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 in the early stages of their moves.
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Ambarella has risen more than 5% past a 65.88 entry in a first-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
The company posted 0% earnings growth last quarter. Revenue increased 63%.
The company earns the No. 10 rank among its peers in the Electronics-Semiconductor Fabless industry group. Impinj, Rambus and NVIDIA are among the top 5 highly rated stocks within the group.
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