In a welcome move, Cloudflare stock saw its Relative Strength Rating improve from 69 to 77 on Thursday.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
This proprietary rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks compares to other publicly traded companies.
Decades of market research shows that the stocks that go on to make the biggest gains tend to have an 80 or better RS Rating in the early stages of their moves. See if Cloudflare stock can continue to rebound and clear that threshold.
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Is Cloudflare Stock A Buy?
Cloudflare stock has been trading in a tight range and is not currently showing a potential buy point. See if the computer software stock goes on to form a sound pattern that could kick off a new price move. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Earnings growth increased in the company's most recent report from 700% to 900%, but the top line fell from 37% to 32%. Look for the next report on or around Nov. 2.
Cloudflare stock earns the No. 9 rank among its peers in the Computer Software-Enterprise industry group. UiPath and Datadog are also among the group's highest-rated stocks.
