On Wednesday, Applied Optoelectronics earned a positive adjustment to its Relative Strength (RS) Rating, from 90 to 94.
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IBD's proprietary RS Rating tracks market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
History shows that the market's biggest winners typically have an RS Rating north of 80 as they begin their largest price moves.
While Applied Optoelectronics is not near an ideal buying range right now, see if it is able to form and break out of a proper chart pattern.
The company posted 0% earnings growth last quarter. Revenue rose 146%.
Applied Optoelectronics holds the No. 3 rank among its peers in the Telecom-Fiber Optics industry group. Lumentum Holdings is the No. 1-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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