The Relative Strength (RS) Rating for Taiwan Semiconductor ADR headed into a new percentile Wednesday, as it got a lift from 68 to 75. Not quite the 80+ one would like to see, but getting very close.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
This proprietary rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks compares to other publicly traded companies.
Decades of market research shows that the market's biggest winners often have an RS Rating north of 80 in the early stages of their moves. See if Taiwan Semiconductor ADR can continue to rebound and clear that threshold.
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Taiwan Semiconductor ADR is not currently showing a traditional buy point. It did bounce of the 50-day moving average today, and is currently trying to clear other key moving averages. Volume is considerably lower recently.
Enticing for aggressive traders perhaps, but let's see if the stock goes on to build a clear chart pattern that could spark a new run.
Earnings Review
Taiwan Semiconductor ADR reported 60% earnings growth last quarter. Revenue increased 29%.
Taiwan Semiconductor ADR holds the No. 4 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Microchip Technology and STMicroelectronics are also among the group's highest-rated stocks.
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