On Tuesday, Amkor Technology (AMKR) experienced a boost in its Relative Strength (RS) Rating, which increased from 79 to 84. This score, which falls on a scale of 1 to 99, compares a stock’s price performance over the past 52 weeks to that of other stocks within a database. Stocks with an RS Rating above 80 at the start of their largest price movements tend to experience the most significant gains.
Investors are currently keeping a close eye on Amkor Technology stock as it consolidates with an entry point of 37.00. They are eagerly waiting to see if the chip stock can break out 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 stock holds the No. 7 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Other top-rated stocks in this group include Taiwan Semiconductor ADR (TSM), NXP Semiconductors (NXPI), and ChipMOS Technologies ADR (IMOS). To stay up-to-date on industry news and receive tools for market timing, growth stock research, and long-term investments, investors can check out “Chip Stocks To Watch And Semiconductor Industry News” or IBD’s offerings.