On Tuesday, Palo Alto Networks reached an important technical milestone, with its Relative Strength (RS) Rating rising into the 80-plus percentile with an upgrade to 83, an increase from 79 the day before.
IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the best stocks typically have an 80 or better RS Rating as they launch their biggest runs.
Looking For The Best Stocks To Buy And Watch? Start Here
Palo Alto Networks is working on a consolidation with a 208.39 buy point. See if the stock can clear the breakout price in heavy trade.
Palo Alto Networks reported 11% EPS growth in the latest quarterly report, while sales growth came in at 14%.
The company holds the No. 4 rank among its peers in the Computer Software-Security industry group. Fortinet is the top-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
RELATED:
Stocks With Rising Relative Strength Ratings
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
