In a welcome move, Cloudflare saw its Relative Strength Rating rise from 64 to 72 on Thursday.
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of above 80 as they begin their biggest runs. See if Cloudflare can continue to show renewed price strength and clear that threshold.
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Cloudflare is trying to complete a cup without handle with a 116.00 buy point. See if it can break out in heavy volume.
The company showed 25% earnings growth in its most recent report. Sales increased 28%.
The company earns the No. 20 rank among its peers in the Computer Software-Enterprise industry group. ServiceNow, Palantir Technologies and Shopify Cl A are among the top 5 highly rated stocks within the group.
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