One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Appian Cl A cleared that benchmark Monday, with a jump from 79 to 83 Monday.
IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 as they begin their biggest price moves.
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Appian Cl A has risen more than 5% past a 35.99 entry in a first-stage cup with handle, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Appian Cl A showed 0% earnings growth last quarter. Revenue rose 12%.
The company earns the No. 6 rank among its peers in the Computer Software-Design industry group. Autodesk, Cadence Design Systems and Altair Engineering Cl A are among the top 5 highly rated stocks within the group.
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