Jabil saw a welcome improvement to its Relative Strength (RS) Rating on Monday, rising from 65 to 76.
IBD's proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 as they launch their biggest climbs. See if Jabil can continue to rebound and clear that threshold.
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Jabil is building a cup with handle with a 139.21 buy point. See if it can break out in heavy trade.
While the company's bottom line growth fell in the prior quarter from -5% to -6%, the top line rose -18%, up from -20% in the previous report. The next quarterly results are expected on or around Dec. 18.
The company earns the No. 8 rank among its peers in the Electronics-Contract Manufacturing industry group. Celestica, Fabrinet and Flex Ltd are among the top 5 highly rated stocks within the group.
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