IBD Rating Upgrades: Microchip Technology Flashes Improved Relative Price Strength

Microchip Technology (MCHP) saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 67 to 71.


When you’re researching the best stocks to buy and watch, keep a close on eye on relative price strength.

IBD’s proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock’s price action over the last 52 weeks compares to other publicly traded companies.

Decades of market research reveals that the top-performing stocks often have an 80 or better RS Rating in the early stages of their moves. See if Microchip Technology can continue to rebound and hit that benchmark.

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Microchip Technology has climbed more than 5% past a 113.38 entry in a first-stage flat base, meaning it’s now out of a proper buy range. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.

Earnings grew 23% last quarter, up from 9% in the prior report. Revenue also increased, from -2% to 5%.

The company holds the No. 10 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Macom (MTSI) and Taiwan Semiconductor (TSM) are also among the group’s highest-rated stocks.


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