Chipmaker Ambarella Stock Joins Rank Of Stocks With RS Ratings Over 90

On Thursday, Ambarella (AMBA) stock reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 93, up from 78 the day before.


As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength. IBD’s unique rating identifies share price movement with a 1 (worst) to 99 (best) score. The score shows how a stock’s price performance over the trailing 52 weeks compares to all the other stocks in our database.

Over 100 years of market history reveals that the top-performing stocks typically have an RS Rating north of 80 as they begin their biggest price moves.

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Is Ambarella Stock A Buy?

Ambarella is working on a cup without handle with a 137.31 entry. See if the stock can break out in heavy trading. The cup without handle is one of the easiest chart pattern to spot. Plus, this chart pattern has produced some successful breakouts recently including ZIM Integrated Shipping Services (ZIM) and Upstart Holdings (UPST). Check out “Seeking Bullish Stock Charts? Cup Without Handle Amazingly Easy To Spot.”

In terms of fundamental health, Ambarella stock has posted four quarters of accelerating earnings growth. Revenue growth has also moved higher during the same period.

The chipmaker holds the No. 13 rank among its peers in the Electronics-Semiconductor Fabless industry group. Advanced Micro Devices (AMD), Lattice Semiconductor (LSCC) and Monolithic Power Systems (MPWR) are among the top 5 highly rated stocks within the group. For more industry news, read “Chip Stocks And Semiconductor Industry News.


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