In a welcome move, Illumina saw its Relative Strength Rating improve from 69 to 78 on Friday.
IBD's unique RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks compares to the rest of the market.
Decades of market research reveals that the best stocks typically have an RS Rating north of 80 as they begin their biggest price moves. See if Illumina can continue to rebound and clear that threshold.
Can You Really Time The Stock Market?
While Illumina is not near an ideal buy zone right now, see if it goes on to form and break out from a proper chart pattern.
Earnings grew 245% last quarter, up from 13% in the prior report. Revenue also increased, from -5% to -3%.
The company holds the No. 5 rank among its peers in the Medical-Research Equipment/Services industry group. Veracyte is the No. 1-ranked stock within the group.
RELATED:
Stocks With Rising Relative Strength Ratings
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
