On Thursday, Flex Ltd hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 80 the day before.
Looking For The Best Stocks To Buy And Watch? Start Here
IBD's proprietary RS Rating measures market leadership 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 that of all other stocks.
History reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 in the early stages of their moves.
Flex Ltd is trying to complete a consolidation with a 45.10 entry. See if the stock can break out in volume at least 40% above average.
While earnings-per-share growth decreased last quarter from 43% to 28%, revenue grew 4%, up from 2% in the prior report.
Flex Ltd earns the No. 3 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.
RELATED:
Which Stocks Are Showing Rising Relative Strength?
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
