Palo Alto Networks saw a welcome improvement to its Relative Strength (RS) Rating on Monday, rising from 86 to 92.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This unique rating tracks technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
History shows that the best stocks often have an RS Rating north of 80 as they begin their biggest climbs.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to form a chart pattern and break out. Two up days on the stock is encouraging news after the recent downward trend. Today it closed near the high of the day.
While sales growth fell last quarter from 30% to 29%, EPS grew 30%, up from 12% in the previous report.
The company holds the No. 3 rank among its peers in the Computer Software-Security industry group. Qualys and Fortinet are among the top 5 highly rated stocks within the group.
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