Dropbox stock had its Relative Strength (RS) Rating upgraded from 66 to 72 Friday -- a welcome improvement, but still below the 80 or better score you prefer to see.
When you're researching 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 indicates how a stock's price performance over the last 52 weeks compares to other publicly traded companies.
Decades of market research shows that the best-performing stocks typically have an 80 or better RS Rating in the early stages of their moves. See if Dropbox can continue to rebound and hit that benchmark.
Looking For Winning Stocks? Try This Simple Routine
Is Dropbox Stock A Buy?
Dropbox stock is trading in a cup-with-handle pattern but avoid adding shares at this time amid a bear market. Add Dropbox to your watch list and wait until the stock market reverses higher before dipping your toe back into stocks.
Earnings growth increased in the company's latest report from -5% to 16%, but sales fell from 8% to 7%.
Dropbox stock earns the No. 4 rank among its peers in the Computer Software-Database industry group. Oracle and CommVault Systems are also among the group's highest-rated stocks.
