Salesforce saw a positive improvement to its Relative Strength (RS) Rating on Monday, with an upgrade from 78 to 82.
IBD's unique rating measures share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
History shows that the best stocks often have an 80 or better RS Rating as they launch their biggest price moves.
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Salesforce is now considered extended and out of buy range after clearing a 318.71 buy point in a second-stage consolidation. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Salesforce reported 21% EPS growth last quarter, while sales growth came in at 8%. The company is expected to report its latest earnings and sales numbers on or around Nov. 27.
Salesforce earns the No. 11 rank among its peers in the Computer Software-Enterprise industry group. AudioEye, monday.com and ServiceNow are among the top 5 highly rated stocks within the group.
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