Snowflake continues to see a rise to its Relative Strength (RS) Rating, upgraded from 78 to 81 Wednesday.
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 compares to that of other stocks on the major indexes.
History reveals that the best stocks tend to have an 80 or better RS Rating as they launch their biggest price moves.
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The stock, which is on theIPO Leaders screen, is trying to complete a long consolidation with a 205.66 buy point. See if it can clear the breakout price in volume at least 40% higher than normal.
Snowflake showed 0% EPS growth last quarter. Revenue gains came in at 48%.
The company earns the No. 30 rank among its peers in the Computer Software-Enterprise industry group. JFrog and Manhattan Associates are also among the group's highest-rated stocks.
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