On Friday, Applied Optoelectronics reached an important technical milestone, with its Relative Strength (RS) Rating rising into the 90-plus percentile with an upgrade to 91, up from 86 the day before.
How To Use Stock Charts To Stay Profitable And Protected
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research shows that the best stocks often have an RS Rating of above 80 as they launch their biggest climbs.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to form a chart pattern and break out.
The company showed 0% earnings growth in its most recent report, while sales growth came in at 138%.
The company earns the No. 6 rank among its peers in the Telecom-Fiber Optics industry group. Lumentum Holdings, Ciena and Viavi Solutions are among the top 5 highly rated stocks 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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