On Wednesday, Viavi Solutions reached a key performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 80 the day before.
IBD's unique RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains tend to have an 80 or better RS Rating in the early stages of their moves.
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Viavi Solutions is trying to complete a cup with handle with a 10.72 entry. See if it can clear the breakout price in volume at least 40% above average.
The company reported negative growth for both the top and bottom lines last quarter.
The company earns the No. 4 rank among its peers in the Telecom-Fiber Optics industry group. Lumentum Holdings is the No. 1-ranked stock within the group.
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