On Monday, Okta stock hit an important performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 80, up from 69 the day before.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's proprietary rating measures price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research shows that the market's biggest winners typically have an RS Rating north of 80 as they launch their biggest price moves.
Looking For Winning Stocks? Try This Simple Routine
Is Okta Stock A Buy?
Okta stock has risen more than 5% past a 74.28 entry in a first-stage consolidation, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The software security firm showed 0% EPS growth last quarter, while sales growth came in at 33%.
Okta stock earns the No. 6 rank among its peers in the Computer Software-Security industry group. Fortinet and NICE ADR are also among the group's highest-rated stocks.
