The Relative Strength (RS) Rating for Fabrinet jumped into a new percentile Friday, with a rise from 79 to 83.
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IBD's unique RS Rating measures technical performance by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
Decades of market research reveals that the market's biggest winners tend to have an 80 or higher RS Rating in the early stages of their moves.
Fabrinet is trying to complete a consolidation with a 281.79 buy point. See if it can clear the breakout price in volume at least 40% higher than normal.
While earnings-per-share growth dropped last quarter from 25% to 5%, revenue grew 19%, up from 17% in the previous report.
Fabrinet earns the No. 3 rank among its peers in the Electronics-Contract Manufacturing industry group. Celestica 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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