Lumentum Holdings had its Relative Strength (RS) Rating upgraded from 77 to 82 Tuesday.
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IBD's proprietary rating tracks price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating as they begin their biggest climbs.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to offer and clear an appropriate buy point.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -25% to 75%. Revenue rose from 6% to 10%. Keep an eye out for the company's next round of numbers on or around May 6.
The company earns the No. 2 rank among its peers in the Telecom-Fiber Optics industry group. Lumentum Holdings is the No. 1-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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