On Wednesday, Avnet received a positive adjustment to its Relative Strength (RS) Rating, from 70 to 73.
When To Sell Stocks To Lock In Profits And Minimize Losses
This proprietary rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks compares to the rest of the market.
History reveals that the best-performing stocks typically have an RS Rating of over 80 in the early stages of their moves. See if Avnet can continue to rebound and hit that benchmark.
Avnet is working on a consolidation with a 59.24 buy point. See if the stock can clear the breakout price in volume at least 40% higher than normal.
Although earnings and sales growth came in at -24% and -6%, respectively, in the latest report, that marked two straight quarters of acceleration for EPS and three for sales. Avnet is expected to release its next quarterly numbers on or around Aug. 7.
Avnet holds the No. 12 rank among its peers in the Electronics-Parts industry group. Amphenol Cl A, Bel Fuse Cl B and Coherent are among the top 5 highly rated stocks 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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