The Relative Strength (RS) Rating for Pure Storage jumped into a new percentile Thursday, as it got a lift from 65 to 74.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks tend to have an RS Rating of over 80 in the early stages of their moves. See if Pure Storage Cl A can continue to rebound and clear that threshold.
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Pure Storage is building the right side of a cup without handle with a 32.55 buy point. See if it can clear the breakout price in heavy trade.
Earnings Upcoming
Pure Storage showed 41% earnings growth in the latest quarterly report, while sales growth came in at 20%. Look for the next report on or around Mar. 2.
The company holds the No. 1 rank among its peers in the Computer Software-Storage industry group. While the group is near the bottom of the list, Pure Storage has been holding its own in the current market.
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