On Monday, GitLab Cl A earned a positive adjustment to its Relative Strength (RS) Rating, from 79 to 83.
IBD's proprietary RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
Over 100 years of market history shows that the market's biggest winners typically have an RS Rating of over 80 as they begin their biggest climbs.
Risk Management In The Stock Market: How Much Money To Invest Now
GitLab Cl A is in a buying range after climbing above a 68.69 buy point in a cup with handle. Once a stock moves 5% or higher beyond the initial entry, it's considered out of buy range.
The company posted 156% earnings growth last quarter, while sales growth came in at 31%.
GitLab Cl A holds the No. 1 rank among its peers in the Computer-Technical Services industry group. GitLab Cl A and Innodata are also among the group's highest-rated stocks.
RELATED:
Stocks With Rising Relative Strength Ratings
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
