When putting together your watch list, look for stocks with an 80 or higher RS Rating. Lumentum Holdings just met that criteria with a new score of 89.
This proprietary rating measures technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 as they begin their biggest price moves.
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Lumentum Holdings has moved more than 5% past a 60.99 entry in a first-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.
Earnings grew 75% last quarter, up from -25% in the prior report. Revenue also increased, from 6% to 10%.
The company holds the No. 2 rank among its peers in the Telecom-Fiber Optics industry group. Viavi Solutions is the No. 1-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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