Investor's Business Daily
Date: Ju9l 27 , 2020
Tech stocks continue to lead the coronavirus market recovery. And world's biggest contract chipmaker Taiwan Semiconductor Manufacturing (TSM) has been leading the parade. TSM saw its stock Relative Strength (RS) Rating jump to 91 on Monday, up from 86 the prior session.
That RS Rating means Taiwan Semiconductor stock has outperformed 91% of all stocks in the past year.
History shows that the best stocks often have an RS Rating of above 80 in the early stages of their moves.
Taiwan Semiconductor shares soared nearly 11% Monday afternoon, to a new high at 82.55, after a report in Seeking Alpha said that TSM got a large order from Intel, the world's biggest chip design company. [FULL STORY]