On Monday, Salesforce earned a positive adjustment to its Relative Strength (RS) Rating, from 78 to 82.
IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
History shows that the market's biggest winners typically have an RS Rating north of 80 in the early stages of their moves.
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Salesforce is building a consolidation with a 318.71 buy point. See if the stock can break out in volume at least 40% above average.
The company posted 21% earnings growth in the latest quarterly report. Revenue increased 8%. The next quarterly results are expected on or around Nov. 27.
The company earns the No. 13 rank among its peers in the Computer Software-Enterprise industry group. monday.com, ServiceNow and Palantir Technologies are among the top 5 highly rated stocks within the group.
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