GitLab stock saw a welcome improvement to its Relative Strength (RS) Rating on Friday, with an upgrade from 69 to 85. The cloud-based platform for DevOps firm debut October 2021.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating measures market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history shows that the top-performing stocks tend to have an RS Rating of above 80 in the early stages of their moves.
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Is GitLab Stock A Buy?
GitLab stock recently retook its 200-day moving average from the bottom of its base and is not currently showing a potential entry point. See if the stock goes on to build a promising consolidation that could launch a new move. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The cloud-based software firm reported 0% EPS growth last quarter, while sales growth came in at 69%.
GitLab stock earns the No. 18 rank among its peers in the Computer-Technical Services industry group. CSP and CDW Corp. are also among the group's highest-rated stocks.
