On Friday, Ciena earned a positive adjustment to its Relative Strength (RS) Rating, from 89 to 96.
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IBD's unique RS Rating identifies market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
History reveals that the best stocks typically have an RS Rating north of 80 at the beginning of a new climb.
Ciena has climbed more than 5% past an 86.21 entry in a first-stage consolidation, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Regarding fundamentals, Ciena has posted rising EPS growth in each of the last five reports. Top line growth has also risen during the same period.
Ciena holds the No. 2 rank among its peers in the Telecom-Fiber Optics industry group. Lumentum Holdings is the top-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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