When putting together your watch list, focus on stocks with an 80 or higher RS Rating. Coherent stock just cleared that benchmark with an upgrade from 75 to 87.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the best stocks typically have an RS Rating of above 80 as they begin their biggest climbs.
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Is Coherent Stock A Buy?
Coherent stock is working on a cup-shaped base. While the stock is not near an ideal buy zone right now, see if it is able to form and break out from a proper base.
The maker of optoelectronic components reported negative growth for both the top and bottom lines last quarter. Coherent is expected to release its next quarterly numbers on or around Feb. 7.
Coherent stock earns the No. 6 rank among its peers in the Electronics-Parts industry group. Bel Fuse A and Amphenol Cl A are also among the group's highest-rated stocks.
