On Wednesday, Sanmina earned a positive adjustment to its Relative Strength (RS) Rating, from 88 to 95.
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IBD's proprietary rating tracks share price movement 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 tend to have an RS Rating north of 80 as they launch their biggest runs.
Sanmina is now considered extended and out of buy range after clearing an 86.31 buy point in a first-stage cup with handle. 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.
Top and bottom line growth moved higher last quarter. Earnings were up 22%, compared to 8% in the prior report. Revenue increased from 8% to 11%.
The company holds the No. 5 rank among its peers in the Electronics-Contract Manufacturing industry group. Celestica 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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