On Monday, Oracle got an upgrade for its IBD SmartSelect Composite Rating from 93 to 97.
The upgrade means the stock is now outperforming 97% of all other stocks in terms of key performance metrics and technical strength. Winning stocks often have a 95 or higher score in the early stages of a new price run, so that's an important benchmark to look for when looking for the best stocks to buy and watch.
Oracle is not currently near a proper buy zone. It was working on a cup with handle base, but failed to clear the buy point, so that base has expired. Now we look for the stock to form and break out of a new base as the RS rating hits 90 and the RS Line gets close to a new high.
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Earnings Report
The stock sports an 82 EPS Rating, meaning its recent quarterly and annual earnings growth tops 82% of all stocks.
Its Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
In Q3, the company posted 8% earnings growth. Sales were flat, matching the prior report's 18%.
Oracle holds the No. 1 rank among its peers in the Computer Software-Database industry group. Progress Software and New Relic are also among the group's highest-rated stocks.
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