Fortinet saw a positive improvement to its Relative Strength (RS) Rating on Monday, with an upgrade from 89 to 92.
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
History shows that the best-performing stocks often have an RS Rating north of 80 at the beginning of a new climb.
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The IBD 50 stock has moved more than 5% past a 73.91 entry in a first-stage cup with handle, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 26% to 50%. Revenue rose from 7% to 11%. Keep an eye out for the company's next round of numbers on or around Nov. 7.
The company holds the No. 1 rank among its peers in the Computer Software-Security industry group. CrowdStrike Holdings and OneSpan are also among the group's highest-rated stocks.
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