Fortinet had its Relative Strength (RS) Rating upgraded from 78 to 81 Wednesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating tracks market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
Decades of market research shows that the market's biggest winners typically have an 80 or better RS Rating in the early stages of their moves.
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Fortinet is still trying to complete a cup with handle with a 73.91 buy point. It recently teased hitting the pivot before falling back. See if the stock can break out and clear the pivot in heavy volume.
The company reported 16% EPS growth last quarter. Revenue rose 10%.
The company earns the No. 5 rank among its peers in the Computer Software-Security industry group. CyberArk Software and Palo Alto Networks are also among the group's highest-rated stocks.
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