On Thursday, DigitalOcean stock received a positive adjustment to its Relative Strength (RS) Rating, from 78 to 88.
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks compares to 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 typically have an RS Rating north of 80 in the early stages of their moves.
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Is DigitalOcean Stock A Buy?
DigitalOcean stock is now considered extended and out of buy range after clearing a 41.37 buy point in a first-stage double bottom. See if the tech stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Earnings growth decreased last quarter from 18% to 11%, but revenue rose from 12% to 13%.
DigitalOcean stock holds the No. 5 rank among its peers in the Computer Software-Enterprise industry group. Dynatrace is the top-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
