On Monday, Fortinet stock cleared a noteworthy technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 81, up from 73 the day before.
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 price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 in the early stages of their moves.
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Is Fortinet Stock A Buy?
Fortinet stock is working on a consolidation with a 371.87 buy point. See if it can break out in heavy volume. Keep this cybersecurity stock on your watchlist. Avoid adding tech stocks during the stock market corrections.
The cybersecurity firm reported 16% EPS growth in its most recent report. Revenue gains came in at 34%.
Fortinet stock earns the No. 2 rank among its peers in the Computer Software-Security industry group. Fortinet and Palo Alto Networks are also among the group's highest-rated stocks.
