On Tuesday, OneStream Cl A reached an important technical milestone, with its Relative Strength (RS) Rating entering into the 80-plus percentile with an improvement to 81, up from 73 the day before.
IBD's unique RS Rating identifies technical performance by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
History shows that the market's biggest winners typically have an RS Rating of over 80 as they begin their biggest runs.
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OneStream Cl A broke out earlier, but is now trading approximately 4% below the prior 35.17 entry from a consolidation. If a stock you're watching climbs above a buy point then retreats 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new base and breakout. Also understand that the most recent consolidation is a later-stage base, and such bases are more prone to failure.
OneStream Cl A showed 0% earnings growth in the latest quarterly report, while sales growth came in at 21%.
The company holds the No. 30 rank among its peers in the Computer Software-Financial industry group. Coinbase Global, Clearwater Analytics and Intapp are among the top 5 highly rated stocks within the group.
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