Avnet saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, rising from 62 to 72.
Can You Really Time The Stock Market?
IBD's unique rating tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks tend to have an 80 or better RS Rating as they launch their largest price moves. See if Avnet can continue to rebound and hit that benchmark.
Avnet is working on a consolidation with a 59.24 buy point. See if the stock can clear the breakout price in heavy trade.
Although earnings and sales growth came in at -24% and -6%, respectively, in the latest report, that marked two straight quarters of acceleration for earnings and three for the top line.
The company earns the No. 11 rank among its peers in the Electronics-Parts industry group. Amphenol Cl A, Bel Fuse Cl B and Coherent 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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