In a welcome move, Extreme Networks stock saw its Relative Strength Rating improve from 67 to 74 on Tuesday.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the top-performing stocks often have an 80 or higher RS Rating in the early stages of their moves. See if Extreme Networks stock can continue to rebound and clear that threshold.
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Is Extreme Networks Stock A Buy?
While Extreme Networks stock is not near a proper buy point right now, see if it manages to form and break out of a proper chart pattern. This is not the time to buy stocks during a market correction, but build a watchlist of possible emerging leaders once the market trend turns around.
Although earnings and sales growth came in at -13% and -6%, respectively, in the latest report, that marked one quarter of improvement for earnings and three for the top line. The computer network company is expected to release its next quarterly numbers on or around Apr. 23.
Extreme Networks stock earns the No. 8 rank among its peers in the Computer-Networking industry group. Radware, Cisco Systems and Digi International are among the top 5 highly rated stocks 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.
