On Friday, Coherent stock reached an important technical milestone, with its Relative Strength (RS) Rating jumping into the 80-plus percentile with an upgrade to 82, up from 74 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against the rest of the market.
Decades of market research reveals that the market's biggest winners often have an 80 or higher RS Rating in the early stages of their moves.
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Is Coherent Stock A Buy?
Coherent stock recently reclaimed its 200-day moving average. The stock is not currently showing a potential buy point but see if the Coherent tock goes on to form a sound pattern that could kick off a new climb. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The industrial laser maker posted negative growth for both sales and earnings last quarter.
Coherent stock holds the No. 10 rank among its peers in the Electronics-Parts industry group. Bel Fuse Cl B and Amphenol Cl A are also among the group's highest-rated stocks.
