Amkor Technology Surges with New RS Rating of 84: Insights on Consolidation and Future Breakout

On Tuesday, Amkor Technology’s (AMKR) Relative Strength (RS) Rating increased from 79 to 84, placing the stock in a new percentile. This score, which ranges from 1 to 99, evaluates a stock’s price performance over the past 52 weeks compared to other stocks in a database. Historically, stocks with an RS Rating above 80 at the start of their biggest price movements have seen significant gains.

Currently, Amkor Technology is consolidating with an entry point of 37.00. Investors are closely watching to see if the chip stock can break out during heavy trading. In Q3, the company experienced growth in both its top and bottom lines, with earnings increasing by 33% compared to -28% in the prior report and revenue declining from -8% to -7%.

Amkor Technology holds the No. 7 spot among its peers in the Electronics-Semiconductor Manufacturing industry group. Other highly rated stocks in this sector include Taiwan Semiconductor ADR (TSM), NXP Semiconductors (NXPI), and ChipMOS Technologies ADR (IMOS). For more industry news and updates on “Chip Stocks To Watch And Semiconductor Industry News,” investors can check out IBD’s tools for market timing, growth stock research, and long-term investments.