In a welcome move, Plexus saw its Relative Strength Rating improve from 69 to 73 on Wednesday.
IBD's proprietary RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks compares to the rest of the market.
History shows that the best stocks typically have an 80 or higher RS Rating as they begin their largest climbs. See if Plexus can continue to show renewed price strength and clear that threshold.
When To Sell Stocks To Lock In Profits And Minimize Losses
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock manages to offer and clear an appropriate buy point.
Plexus reported negative growth for both the top and bottom lines last quarter. Plexus is expected to release its next quarterly numbers on or around Jul. 17.
The company holds the No. 8 rank among its peers in the Electronics-Contract Manufacturing industry group. Celestica, Fabrinet and TTM Technologies are among the top 5 highly rated stocks within the group.
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