Coherent had its Relative Strength (RS) Rating upgraded from 77 to 87 Monday.
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IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains tend to have an 80 or better RS Rating as they launch their biggest climbs.
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.
Coherent showed 139% EPS growth in its most recent 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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