On Tuesday, Palo Alto Networks cleared an important technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 85, up from 79 the day before.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners often have an 80 or higher RS Rating in the early stages of their moves.
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Palo Alto Networks is working on a consolidation with a 641.00 entry. It is a rare technology stock that has held up in the current market. See if it can clear the breakout price in volume at least 40% above average.
Earnings Update
Earnings growth moved up in the company's latest report from 12% to 30%, but the top line fell from 30% to 29%.
Palo Alto Networks earns the No. 2 rank among its peers in the Computer Software-Security industry group. Fortinet is also among the group's highest-rated stocks.
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