On Tuesday, Lumentum Holdings reached an important performance benchmark, with its Relative Strength (RS) Rating rising into the 90-plus percentile with an upgrade to 91, up from 87 the day before.
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This exclusive rating from Investor's Business Daily measures share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
History shows that the market's biggest winners often have an RS Rating north of 80 at the beginning of a new run.
Lumentum Holdings is now considered extended and out of buy range after clearing a 60.99 buy point in a first-stage consolidation. 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.
In terms of top and bottom line numbers, Lumentum Holdings has posted two quarters of increasing earnings growth. Sales growth has also increased during the same period.
Lumentum Holdings earns the No. 1 rank among its peers in the Telecom-Fiber Optics industry group. Clearfield and Ciena are also among the group's highest-rated stocks.
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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