Salesforce had its Relative Strength (RS) Rating upgraded from 85 to 91 Thursday.
This unique rating identifies technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
History reveals that the best-performing stocks often have an RS Rating of above 80 at the beginning of a new run.
Looking For The Best Stocks To Buy And Watch? Start Here
Salesforce has moved more than 5% past a 318.71 entry in a second-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The company posted 14% earnings growth in the latest quarterly report, while sales growth came in at 8%.
The company holds the No. 16 rank among its peers in the Computer Software-Enterprise industry group. Samsara, Klaviyo and Cloudflare are among the top 5 highly rated stocks within the group.
RELATED:
Stocks With Rising Relative Strength Ratings
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
