MongoDB had its Relative Strength (RS) Rating upgraded from 68 to 73 Tuesday — a welcome improvement, but still short of the 80 or higher score you prefer to see.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 in the early stages of their moves. See if MongoDB can continue to show renewed price strength and hit that benchmark.
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MongoDB is now considered extended and out of buy range after clearing a 297.68 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 line.
Top and bottom line growth moved higher last quarter. Earnings were up 21%, compared to -25% in the prior report. Revenue increased from 13% to 22%.
MongoDB holds the No. 15 rank among its peers in the Computer Software-Database industry group. Confluent, Commvault Systems and Elastic are among the top 5 highly rated stocks within the group.
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