NetApp had its Relative Strength (RS) Rating upgraded from 66 to 73 Thursday — a welcome improvement, but still shy of the 80 or better score you look for.
IBD's unique RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks compares to the rest of the market.
Over 100 years of market history reveals that the best stocks typically have an RS Rating north of 80 in the early stages of their moves. See if NetApp can continue to rebound and hit that benchmark.
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NetApp is working on a consolidation with a 135.45 entry. See if it can clear the breakout price in heavy trading.
NetApp posted 18% earnings growth in the latest quarterly report, while sales growth came in at 6%. Look for the next report on or around Feb. 27.
The company holds the No. 1 rank among its peers in the Computer Software-Storage industry group. Pure Storage Cl A and Western Digital are also among the group's highest-rated stocks.
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