Fabrinet had its Relative Strength (RS) Rating upgraded from 87 to 91 Thursday.
How To Use Stock Charts To Stay Profitable And Protected
IBD's unique RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an 80 or better RS Rating at the beginning of a new climb.
Fabrinet is within a buy zone after moving past a 281.79 buy point in a consolidation. Once a stock moves 5% or higher beyond the original entry, it's considered extended and out of buy range.
Earnings-per-share growth dropped in the company's most recent report from 25% to 5%, but sales rose from 17% to 19%.
Fabrinet holds the No. 2 rank among its peers in the Electronics-Contract Manufacturing industry group. Celestica 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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