Ciena saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 75 to 84.
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 trailing 52 weeks matches up against other publicly traded companies.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an 80 or better RS Rating as they launch their biggest climbs.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to establish and enter a buy zone in heavy trade.
Ciena saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -28% to -3%. Revenue rose from 0% to 3%.
The company holds the No. 5 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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