Coherent saw a welcome improvement to its Relative Strength (RS) Rating on Friday, rising from 72 to 83.
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IBD's proprietary rating measures share price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
History shows that the market's biggest winners typically have an RS Rating of at least 80 in the early stages of their moves.
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 in the latest quarterly report, while sales growth came in at 24%.
Coherent earns 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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