Asana stock saw a positive improvement to its Relative Strength (RS) Rating on Wednesday, rising from 70 to 86.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the top-performing stocks often have an RS Rating north of 80 in the early stages of their moves.
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Is Asana Stock A Buy?
The IBD 50 stock dipped below its 50-day moving average is not currently near a potential buying area. It's not a good idea to make any new buys at this time during the stock market correction. Asana stock belongs on your watch list. See if the stock goes on to form a base that could launch a new move when the market condition turns bullish.
The computer software firm showed 0% EPS growth last quarter, while sales growth came in at 20%.
Asana stock earns the No. 37 rank among its peers in the Computer Software-Enterprise industry group. UiPath and Palantir Technologies are also among the group's highest-rated stocks.
