Fabrinet saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, with an upgrade from 70 to 80.
This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 in the early stages of their moves.
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Fabrinet is trying to complete a consolidation with a 278.38 buy point. See if it can clear the breakout price in volume at least 40% higher than normal. Keep in mind that it's a later-stage consolidation, and those entail more risk.
Earnings growth dropped in the company's most recent report from 30% to 20%, but the top line rose from 15% to 17%. The next quarterly results are expected on or around Feb. 3.
The company earns the No. 2 rank among its peers in the Electronics-Contract Manufacturing industry group. Celestica is the No. 1-ranked stock within the group.
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