On Tuesday, MongoDB stock received a positive adjustment to its Relative Strength (RS) Rating, from 66 to 86.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
This exclusive rating from Investor's Business Daily measures price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research reveals that the best-performing stocks tend to have an RS Rating north of 80 in the early stages of their moves.
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Is MongoDB Stock A Buy?
MongoDB stock has been trading below its 200-day moving average. While the software database stock is not near an ideal buy zone right now, see if it is able to form and break out of a proper consolidation. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
In terms of fundamentals, the company has posted three quarters of increasing earnings growth. Top line growth has also increased during the same period. Mongodb is expected to report its next quarterly numbers on or around Sep. 2.
MongoDB stock holds the No. 4 rank among its peers in the Computer Software-Database industry group. Progress Software and Dropbox are also among the group's highest-rated stocks.
