The Relative Strength (RS) Rating for Fabrinet jumped into a new percentile Wednesday, as it got a lift from 68 to 75.
This exclusive rating from Investor's Business Daily identifies price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains tend to have an 80 or higher RS Rating as they begin their biggest runs. See if Fabrinet can continue to rebound and clear that threshold.
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Fabrinet is trying to complete a consolidation with a 278.38 buy point. See if it can clear the breakout price in heavy trade. Keep in mind that it's a later-stage consolidation, and those are riskier than earlier-stage patterns.
Earnings growth dropped last quarter from 30% to 20%, but revenue rose from 15% to 17%.
The company earns the No. 2 rank among its peers in the Electronics-Contract Manufacturing industry group. Celestica is the No. 1-ranked stock within the group.
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