The Relative Strength (RS) Rating for Fortinet stock entered a new percentile Wednesday, with a rise from 80 to 86.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
History reveals that the best stocks tend to have an 80 or better RS Rating in the early stages of their moves.
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Is Fortinet Stock A Buy?
Fortinet stock is trading below its 50-day and 200-day moving average. The cybersecurity stock is building a consolidation with a 371.87 entry and currently not in a proper buying range. See if it can break out in heavy volume.
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Taking a look at revenue and profit performance, Fortinet has posted rising EPS growth over the last two quarters. Revenue gains have been less impressive, coming in at 0% in the latest report.
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.
