Ciena stock saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 62 to 77.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's proprietary RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
History shows that the market's biggest winners often have an RS Rating of above 80 in the early stages of their moves. See if Ciena stock can continue to show renewed price strength and clear that threshold.
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Is Ciena Stock A Buy?
Ciena stock is trading a short flat base. While now is not an ideal time to jump in, see if the telecom stock manages to establish and enter a buy zone in heavy trade. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Regarding top and bottom line numbers, the telecom firm has posted two quarters of increasing earnings growth. Top line growth has also moved higher during the same period.
Ciena stock holds the No. 2 rank among its peers in the Telecom-Fiber Optics industry group. Clearfield and Lumentum Holdings are also among the group's highest-rated stocks.
