On Wednesday, Palo Alto Networks stock reached an important technical milestone, with its Relative Strength (RS) Rating entering into the 90-plus percentile with an upgrade to 92, a rise from 87 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This unique rating identifies market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the market's biggest winners often have an RS Rating north of 80 at the beginning of a new run.
See How IBD Helps You Make More Money In Stocks
Is Palo Alto Networks Stock A Buy?
The IBD 50 stock is trying to complete a cup without handle with a 641.00 entry. Palo Alto Networks stock gapped up 12% on Tuesday on solid Q4 earnings results. See if it can clear the breakout price in volume at least 40% above average.
Earnings growth increased in the company's most recent report from 30% to 49%, but sales fell from 29% to 27%.
Palo Alto Networks stock holds the No. 3 rank among its peers in the Computer Software-Security industry group. HireRight Holdings Corp and Qualys are among the top 5 highly rated stocks within the group.
