Coherent had its Relative Strength (RS) Rating upgraded from 88 to 92 Tuesday.
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This proprietary rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matches up against all other stocks in our database.
Decades of market research reveals that the market's biggest winners typically have an RS Rating of at least 80 at the beginning of a new climb.
Coherent is now considered extended and out of buy range after clearing an 80.80 buy point in a third-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The company showed 139% earnings growth last quarter, while sales growth came in at 24%. The next quarterly results are expected on or around Aug. 19.
The company earns the No. 4 rank among its peers in the Electronics-Parts industry group. Amphenol Cl A is the top-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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