Axon Enterprise stock saw a positive improvement to its Relative Strength (RS) Rating on Wednesday, rising from 90 to 93.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's unique RS Rating measures technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
History reveals that the best-performing stocks often have an 80 or higher RS Rating in the early stages of their moves.
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Is Axon Enterprise Stock A Buy?
The stock, which is on both the IBD 50 and IBD Sector Leaders screens, is trying to complete a cup with handle with a 217.61 buy point. See if Axon Enterprise stock can break out in volume at least 40% higher than normal. Note that it's a second-stage base. Such later-stage patterns involve more risk and are more and have a higher likelihood to fail than first- or second-stage consolidations. Check out "Find Today's Best Growth Stocks To Watch With IBD 50."
Earnings growth rose last quarter from 96% to 152%. But sales fell from 34% to 31%. The next quarterly numbers are expected on or around Nov. 7.
Axon Enterprise stock holds the No. 1 rank among its peers in the Security/Safety industry group. Ituran Location & Ctrl and Cadre Holdings are also among the group's highest-rated stocks.
