Lumentum Makes New All-Time High By A Wide Margin

Lumentum Holdings Inc LITE shares are trading higher by $5.00 (9 percent) at $62.80 in Tuesday's session.

There is no specific news out on the issue, so the sharp move higher may be attributed to a technical breakout on the daily charts.

Over its last six sessions, Lumentum has made all of its daily highs in a range from $58.67 to $59.25. After a lower open, it bottomed off its opening print of $57.25 and began to move higher. Once the stock cleared the highest point of the range of the successive highs, the pace of the rally accelerated.

It has continued to make new highs for the session, with the current one standing at $63.35.