In a welcome move, Applied Optoelectronics saw its Relative Strength Rating rise from 67 to 78 on Friday.
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IBD's unique RS Rating identifies 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 tend to have an RS Rating north of 80 in the early stages of their moves. See if Applied Optoelectronics can continue to rebound and hit that benchmark.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to form a consolidation and break out.
The company posted 0% EPS growth in the latest quarterly report, while sales growth came in at 146%.
The company holds the No. 6 rank among its peers in the Telecom-Fiber Optics industry group. Lumentum Holdings, Clearfield and Ciena 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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