On Tuesday, Arqit Quantum received a positive adjustment to its Relative Strength (RS) Rating, from 88 to 98.
IBD's unique rating tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
History shows that the best stocks typically have an 80 or higher RS Rating as they launch their largest runs.
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Arqit Quantum is now considered extended and out of buy range after clearing a 10.17 buy point in a first-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Arqit Quantum posted 0% earnings growth in the latest quarterly report, while sales growth came in at -68%.
Arqit Quantum holds the No. 14 rank among its peers in the Computer Software-Security industry group. Fortinet, Palo Alto Networks and Zscaler are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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