One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Sanmina just hit that mark, with a jump from 71 to 85 Tuesday.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the best-performing stocks tend to have an RS Rating of above 80 in the early stages of their moves.
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While the stock is not near a proper buying range right now, see if it goes on to form and break out from a proper chart pattern.
In terms of fundamentals, Sanmina has posted rising EPS growth in each of the last two reports. Top line growth has also moved higher over the same time frame. Sanmina is expected to release its next quarterly numbers on or around May 5.
Sanmina holds the No. 2 rank among its peers in the Electronics-Contract Manufacturing industry group. Celestica 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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