Hewlett Packard Ent had its Relative Strength (RS) Rating upgraded from 79 to 87 Monday.
IBD's proprietary RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
Decades of market research shows that the top-performing stocks tend to have an RS Rating of at least 80 as they launch their biggest climbs.
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Hewlett Packard Ent is now considered extended and out of buy range after clearing a 21.09 buy point in a first-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
In terms of top and bottom line numbers, Hewlett Packard Ent has posted rising EPS growth in each of the last three reports. Sales gains have also increased over the same time frame.
The company earns the No. 8 rank among its peers in the Computer-Technical Services industry group. Dave, GitLab Cl A and Innodata are among the top 5 highly rated stocks within the group.
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