As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD’s unique RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that shows how a stock’s price action over the trailing 52 weeks compares to other publicly traded companies.
Over 100 years of market history shows that the top-performing stocks typically have an RS Rating of over 80 as they begin their largest runs. See if Tower Semiconductor can continue to show renewed price strength and clear that threshold.
Tower Semiconductor is building a consolidation with a 34.55 buy point. See if the stock can clear the breakout price in heavy volume.
Top and bottom line growth moved higher in the company’s most recent quarter. Earnings were up 55%, compared to -28% in the prior report. Revenue increased from -1% to 13%.
Tower Semiconductor earns the No. 18 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Amkor Technology (AMKR) and Chipmos Technologies (IMOS) are also among the group’s highest-rated stocks.
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Originally published at https://www.investors.com/research/tower-semiconductor-sees-rs-rating-rise-to-71/ on .