The Relative Strength (RS) Rating for Cadence Design Systems stock jumped into a new percentile Wednesday, with a rise from 71 to 84.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
This exclusive rating from Investor's Business Daily identifies price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the best stocks often have an RS Rating north of 80 as they begin their biggest climbs.
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Is Cadence Design Systems Stock A Buy?
Cadence Design Systems stock retook its 50-day moving average and is trying to complete a consolidation with a 192.80 buy point. See if the stock can break out in heavy trade. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The design software firm saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -1% to 41%. Revenue rose from 2% to 23%.
Cadence Design Systems stock holds the No. 1 rank among its peers in the Computer Software-Design industry group.
