On Thursday, Camtek reached an important technical milestone, with its Relative Strength (RS) Rating moving into the 80-plus percentile with an upgrade to 80, up from 70 the day before.
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This unique rating tracks 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 that of all other stocks.
Over 100 years of market history shows that the best-performing stocks often have an 80 or higher RS Rating in the early stages of their moves.
While it's not currently an ideal time to invest, see if the stock is able to establish and enter a buying range in heavy volume.
Camtek showed 25% earnings growth in the latest quarterly report, while sales growth came in at 22%. Keep an eye out for the company's next round of numbers on or around Jul. 30.
Camtek holds the No. 1 rank among its peers in the Electronics-Scientific Measuring industry group. Itron and FARO Technologies 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.
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