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Allegro Microsystems Meets 80-Plus Relative Strength Rating Benchmark

The Relative Strength (RS) Rating for Allegro Microsystems (ALGM) jumped into a new percentile Friday, with a rise from 79 to 82.




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When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

IBD’s proprietary RS Rating identifies technical performance by showing how a stock’s price action over the last 52 weeks compares to that of other stocks on the major indexes.

Over 100 years of market history reveals that the best stocks tend to have an RS Rating of above 80 as they begin their biggest climbs.


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Allegro Microsystems broke out earlier, but is now approximately 4% below the prior 32.06 entry from a cup with handle. If a stock you’re tracking climbs above a buy point then declines 7% or more below the original entry price, it’s considered a failed base. It’s best to wait for the stock to form a new consolidation and breakout. Also keep in mind that the latest consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.

Earnings grew 157% last quarter, up from 36% in the prior report. Revenue also increased, from 0% to 64%.

The company earns the No. 13 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Diodes (DIOD) and ON Semiconductor (ON) are also among the group’s highest-rated stocks.

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