One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Sanmina now clears that threshold, with a jump from 80 to 84 Wednesday.
This exclusive rating from Investor's Business Daily identifies price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
History shows that the best-performing stocks often have an RS Rating north of 80 as they begin their biggest price moves.
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Sanmina is forming a consolidation with a 76.84 entry. See if it can clear the breakout price in trade at least 40% higher than normal.
The stock's relative strength line is in new high territory, a bullish indicator ahead of a potential breakout.
Earnings grew 1% last quarter, up from -19% in the prior report. Revenue also increased, from -17% to -2%.
Sanmina earns the No. 6 rank among its peers in the Electronics-Contract Manufacturing industry group. Celestica, Flex Ltd and Fabrinet are among the top 5 highly rated stocks within the group.
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