Marvell Technology, In A Buy Zone, Sees RS Rating Soar
When looking for the best stocks to buy and watch, focus on those with rising relative price strength. One stock that fits that bill is Marvell Technology (MRVL), which had its Relative Strength (RS) Rating upgraded from 78 to 87 Thursday. See if Marvell Technology stock can remain in a buy zone and market conditions improve in the coming days.
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When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This proprietary rating tracks technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against that of all other stocks.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an RS Rating of above 80 in the early stages of their moves.
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Marvell Technology Stock In A Buy Zone
Marvell Technology stock is remains in a buy zone after breaking past a 64.17 entry in a flat base. Once a stock moves 5% or higher beyond the original entry, it's considered out of buy range.
The relative strength line is currently in new high territory, a positive sign of market leadership for the Wilmington, Del., based firm.
Top and bottom line growth moved higher last quarter. Earnings were up 62%, compared to 61% in the prior report. Revenue increased from 20% to 48%.
Marvell Technology stock earns the No. 9 rank among its peers in the Electronics-Semiconductor Fabless industry group. Advanced Micro Devices (AMD) and Lattice Semiconductor (LSCC) are also among the group's highest-rated stocks.
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