One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Coherent now clears that threshold, with a jump from 78 to 82 Tuesday.
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This unique rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks matches up against the rest of the market.
Decades of market research shows that the top-performing stocks typically have an RS Rating north of 80 as they begin their biggest runs.
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 consolidation and break out.
The company showed 139% EPS growth in the latest quarterly report, while sales growth came in at 24%.
Coherent holds the No. 2 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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