On Tuesday, Amkor Technology’s (AMKR) Relative Strength (RS) Rating increased from 79 to 84, placing the stock in a new percentile. This score, which ranges from 1 to 99, compares a stock’s price performance over the past 52 weeks to all other stocks in a database. Stocks with an RS Rating above 80 at the start of their biggest price movements tend to experience significant gains.
Currently, Amkor Technology is consolidating with a 37.00 entry point. Investors are closely monitoring the chip stock for signs of a breakout in heavy trading. In the last quarter, the company reported growth in both its top and bottom lines, with earnings increasing by 33% compared to -28% in the previous report and revenue decreasing from -8% to -7%.
Amkor Technology holds the No. 7 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Taiwan Semiconductor ADR (TSM), NXP Semiconductors (NXPI), and ChipMOS Technologies ADR (IMOS) are some of the top-rated stocks in this group. For more industry news and updates, investors can check out “Chip Stocks To Watch And Semiconductor Industry News.” Additionally, IBD offers tools that can assist investors with market timing, growth stock research, and long-term investments.
