Lumentum Holdings had its Relative Strength (RS) Rating upgraded from 90 to 93 Thursday.
Looking For The Best Stocks To Buy And Watch? Start Here
IBD's unique RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history shows that the top-performing stocks typically have an 80 or better RS Rating in the early stages of their moves.
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 moving average.
Regarding top and bottom line numbers, Lumentum Holdings has posted two quarters of increasing earnings growth. Sales gains have also moved higher over the same time frame.
The company earns the No. 1 rank among its peers in the Telecom-Fiber Optics industry group. Clearfield and Applied Optoelectronics 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.
RELATED:
IBD Stock Rating Upgrades: 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!
