Cloudflare stock saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 66 to 73.
This proprietary rating measures technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an RS Rating north of 80 as they launch their largest climbs. See if Cloudflare stock can continue to rebound and clear that threshold.
When To Sell Stocks To Lock In Profits And Minimize Losses
Is Cloudflare Stock A Buy?
Cloudflare stock broke out earlier, but is now trading about 3% below the prior 96.30 entry from a cup with handle. In the case where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to form. Also keep in mind that the most recent consolidation is a later-stage base, and those involve more risk.
The Calif.-based computer software enterprise company showed 25% EPS growth in the latest quarterly report. Sales gains came in at 28%.
Cloudflare stock holds the No. 17 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies, Shopify Cl A and ServiceNow are among the top 5 highly rated stocks within the group.
