Fortinet had its Relative Strength (RS) Rating upgraded from 87 to 91 Monday.
IBD's unique rating identifies share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 in the early stages of their moves.
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The IBD 50 stock has risen more than 5% past a 73.91 entry in a first-stage cup with handle, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Regarding fundamentals, Fortinet has posted rising EPS growth over the last three quarters. Sales gains have also moved higher during the same period.
The company holds the No. 1 rank among its peers in the Computer Software-Security industry group. CrowdStrike Holdings and OneSpan are also among the group's highest-rated stocks.
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