Viavi Solutions stock had its Relative Strength (RS) Rating upgraded from 78 to 93 Tuesday. The Arizona-based telecom company reported strong Q2 earnings results. Revenue beat analysts' expectations by 4%, but missed earnings per share (EPS) estimates.
This unique rating identifies technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history reveals that the best stocks typically have an RS Rating north of 80 in the early stages of their moves.
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Is Viavi Solutions Stock A Buy?
Viavi Solutions stock is currently extended after breaking out of a cup-shaped base with 11.49 entry point. While the stock is not near an ideal buying range right now, see if it manages to form and break out from a proper consolidation.
Earnings grew 18% last quarter, up from -33% in the prior report. Revenue also increased, from -4% to 6%.
Viavi Solutions stock earns the No. 1 rank among its peers in the Telecom-Fiber Optics industry group. Ciena and Lumentum Holdings are also among the group's highest-rated stocks.
