Autodesk stock saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, with an upgrade from 77 to 82.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
History reveals that the market's biggest winners often have an 80 or better RS Rating as they begin their biggest runs.
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Is Autodesk Stock A Buy?
Autodesk stock is working on a double bottom with a 233.79 entry. See if it can break out in heavy volume. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The computers software firm reported 27% earnings growth last quarter. Revenue gains came in at 14%. Keep an eye out for the company's next round of numbers on or around Feb. 23.
Autodesk stock holds the No. 3 rank among its peers in the Computer Software-Design industry group. Cadence Design Systems and Autodesk are also among the group's highest-rated stocks.
