On Friday, DigitalOcean got a big upgrade to its Relative Strength (RS) Rating, from 73 to 90.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength. This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the best stocks typically have an RS Rating of over 80 in the early stages of their moves.
Looking For Winning Stocks? Try This Simple Routine
DigitalOcean has moved more than 5% past a 39.66 entry in a first-stage cup without handle, meaning it's now out of a proper buy zone. It fell back earlier, offering a chance to get in. Now it is extended. Look for the stock to offer another chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.
DOCN Earnings
While the company's top line growth fell last quarter from 36% to 30%, the bottom line grew 211%, up from 155% in the previous report. Keep an eye out for the company's next round of numbers on or around Aug. 3.
The company earns the No. 1 rank among its peers in the Computer Software-Enterprise industry group. Dynatrace is also among the group's highest-rated stocks.
Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks
