Lumentum Holdings had its Relative Strength (RS) Rating upgraded from 78 to 83 Tuesday.
IBD's proprietary rating identifies share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the best-performing stocks often have an 80 or better RS Rating in the early stages of their moves.
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Lumentum Holdings is now considered extended and out of buy range after clearing a 60.99 buy point in a first-stage consolidation. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Lumentum Holdings saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -25% to 75%. Revenue rose from 6% to 10%.
The company earns the No. 2 rank among its peers in the Telecom-Fiber Optics industry group. Viavi Solutions is the top-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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