On Friday, Pure Storage stock reached an important technical benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 94, up from 82 the day before.
When you're researching 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 share price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains tend to have an RS Rating of over 80 at the beginning of a new climb.
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Is Pure Storage Stock A Buy?
Pure Storage stock gapped up on positive Q4 earnings news on Thursday. The stock is building a cup without handle with a 35.19 entry. See if the stock can clear the breakout price in heavy trade. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Earnings-per-share growth fell in the company's most recent report from 2,100% to 177%, but the top line rose from 37% to 41%.
Pure Storage stock earns the No. 2 rank among its peers in the Computer Software-Storage industry group. Micron Technology is the top-ranked stock within the group.
