On Friday, TTM Technologies hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 92, up from 86 the day before.
IBD's unique RS Rating tracks market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains often have an 80 or higher RS Rating at the beginning of a new climb.
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TTM Technologies broke out earlier, but is now trading around 4% below the prior 22.70 entry from a consolidation. If a stock you're tracking clears a buy point then falls 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new base and breakout. Also keep in mind that the most recent pattern is a later-stage base, and such bases are more prone to failure.
TTM Technologies reported -5% earnings growth in the latest quarterly report. Revenue gains came in at 8%.
The company earns the No. 4 rank among its peers in the Electronics-Contract Manufacturing industry group. Celestica is the top-ranked stock within the group.
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