Elastic stock saw a welcome improvement to its Relative Strength (RS) Rating on Monday, rising from 61 to 74.
IBD's proprietary rating measures share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Decades of market research reveals that the best stocks tend to have an RS Rating of at least 80 as they launch their largest price moves. See if Elastic stock can continue to rebound and clear that threshold.
Can You Really Time The Stock Market?
Is Elastic Stock A Buy?
Elastic stock is currently trading tightly at its 20-day and 50-day moving average, the computer database stock is not near a proper buying range. See if the stock goes on to form and break out of a proper chart pattern.
Earnings growth dropped in the most recent report from 112% to -5%. But sales moved higher, from 19% to 20%.
Elastic stock holds the No. 7 rank among its peers in the Computer Software-Database industry group. Commvault Systems, Varonis Systems and Zeta Global Holdings are among the top 5 highly rated stocks within the group.
