When considering what names to put on your watch list, look for stocks with an 80 or higher RS Rating. Confluent now meets that criteria, with a jump from 78 to 85 Friday.
IBD's proprietary rating measures price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an RS Rating of at least 80 as they launch their biggest price moves.
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Confluent is trying to complete a consolidation with a 35.07 buy point. See if it can clear the breakout price in volume at least 40% above average.
Earnings growth slowed last quarter from 500% to 400%. But sales moved higher, from 24% to 25%.
The company earns the No. 1 rank among its peers in the Computer Software-Database industry group. Commvault Systems and Similarweb are also among the group's highest-rated stocks.
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