Oracle saw another improvement in its IBD SmartSelect Composite Rating Thursday, moving from 94 to 96.
The new rating is a sign the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.
Oracle is not currently near a proper buy point, having recently cleared a pivot from a long cup with handle pattern. Look for the stock to form and break out of a new chart pattern, or maybe a bounce off the 21-day moving average on higher volume.
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The stock earns an 82 EPS Rating, which means its recent quarterly and longer-term annual earnings growth is outpacing 82% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
In Q3, the company reported 8% EPS growth. Top line growth was flat, matching the prior report's 18%.
Oracle holds the No. 1 rank among its peers in the Computer Software-Database industry group. Progress Software and New Relic are also among the group's highest-rated stocks.
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