Applied Optoelectronics saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, rising from 88 to 92.
Here Are 3 Keys For Successful Stock Investing
IBD's unique RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks matches up against all other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners typically have an 80 or higher RS Rating at the beginning of a new run.
Applied Optoelectronics is now considered extended and out of buy range after clearing a 31.13 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.
Applied Optoelectronics showed 0% EPS growth in its most recent report, while sales growth came in at 138%. The company is expected to report its latest performance numbers on or around Nov. 6.
The company earns the No. 6 rank among its peers in the Telecom-Fiber Optics industry group. Ciena, Lumentum Holdings and Optical Cable 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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