Micron Technology (MU) saw a positive improvement to its Relative Strength (RS) Rating on Friday, rising from 78 to 81.
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When you’re researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
This exclusive rating from Investor’s Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock’s price movement over the last 52 weeks compares to all the other stocks in our database.
History shows that the best-performing stocks often have an RS Rating north of 80 in the early stages of their moves.
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Micron Technology broke out earlier, but has fallen back below the prior 70.50 entry from a double bottom. In the scenario where a stock breaks out then falls 7% or more below the entry price, it’s considered a failed breakout. That has not happened yet, although it came close. It is currently trying to retake the entry point.
Micron Technology posted 0% earnings growth in the latest quarterly report. Sales rose -57%. The next earnings report is not until late September.
The company earns the No. 6 rank among its peers in the Computer Software-Storage industry group. NetApp (NTAP) and SMART Global Holdings (SGH) are also among the group’s highest-rated stocks.
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Source: https://www.investors.com/research/stocks-to-watch-micron-technology-sees-rs-rating-rise-to-81/?src=A00220&yptr=yahoo