Avnet saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, rising from 61 to 78.
This unique rating tracks market leadership 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 shows that the best-performing stocks typically have an RS Rating north of 80 as they launch their biggest climbs. See if Avnet can continue to show renewed price strength and clear that threshold.
How To Invest In Stocks In Both Bull And Bear Markets
Avnet is in a buy zone after clearing a 55.03 buy point in a cup with handle. The proper buying range extends to 5% above the initial entry. Once a stock moves above that range, it's best to hold off investing and wait for it to set up another buying opportunity..
Earnings growth decreased in the most recent report from -41% to -43%. But revenue moved higher, from -15% to -12%.
The company holds the No. 8 rank among its peers in the Electronics-Parts industry group. Amphenol Cl A, Coherent and CTS Corp are among the top 5 highly rated stocks within the group.
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