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Microchip Technology Shows Improved Relative Strength; Still Shy Of Benchmark

In a welcome move, Microchip Technology (MCHP) saw its Relative Strength Rating rise from 70 to 73 on Friday.

When you’re researching the best stocks to buy and watch, be sure to pay attention to relative price strength.

This proprietary rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock’s price action over the last 52 weeks compares to the rest of the market.

History shows that the stocks that go on to make the biggest gains typically have an 80 or better RS Rating in the early stages of their moves. See if Microchip Technology can continue to rebound and clear that threshold.


See How IBD Helps You Make More Money In Stocks


Microchip Technology is trying to complete a consolidation with a 166.77 buy point. See if it can clear the breakout price in volume at least 40% higher than normal.

Top and bottom line growth moved higher in the company’s most recent quarter. Earnings were up 23%, compared to 9% in the prior report. Revenue increased from -2% to 5%. Look for the next report on or around May 7.

The company holds the No. 9 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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