Harmonic had its Relative Strength (RS) Rating upgraded from 66 to 72 Friday — a welcome improvement, but still short of the 80 or better score you look for.
This unique rating measures technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks matched up against all other stocks.
History reveals that the best-performing stocks tend to have an 80 or higher RS Rating as they launch their largest runs. See if Harmonic can continue to rebound and hit that benchmark.
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Harmonic is trying to complete a cup without handle with a 15.46 entry. See if the stock can clear the breakout price in volume at least 40% above average.
Regarding top and bottom line numbers, the company has posted two quarters of increasing earnings growth. Sales growth has also moved higher over the same time frame. The company is expected to report its next quarterly numbers on or around Feb. 3.
Harmonic holds the No. 3 rank among its peers in the Telecom-Cable/Satellite Equipment industry group. Frequency Electronics is the top-ranked stock within the group.
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