On Tuesday, Asana received an upgrade to its Relative Strength (RS) Rating, from 64 to 81.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
Over 100 years of market history shows that the best stocks tend to have an RS Rating of above 80 as they launch their biggest runs.
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While the stock is not near a proper entry right now, it has finally cleared key moving averages, particularly the 200-day. Now let us see if it goes on to form and break out of a proper consolidation while keeping the higher volume we are seeing recently.
The company posted 0% earnings growth in its most recent report. Sales gains came in at 34%.
Asana earns the No. 46 rank among its peers in the Computer Software-Enterprise industry group. Asure Software and Manhattan Associates are also among the group's highest-rated stocks.
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