Confluent stock saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 75 to 81.
IBD's proprietary rating identifies price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the best stocks tend to have an RS Rating north of 80 as they launch their biggest price moves.
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Is Confluent Stock A Buy?
Confluent stock is trading in a sloppy cup-shaped base, but it's not currently offering a proper buying opportunity. See if the tech stock goes on to build a sound pattern that could spark a new run.
The computer database software firm posted 0% EPS growth last quarter, while sales growth came in at 26%.
Confluent stock holds the No. 1 rank among its peers in the Computer Software-Database industry group. Commvault Systems and Elastic are also among the group's highest-rated stocks.
