On Thursday, Salesforce earned a positive adjustment to its Relative Strength (RS) Rating, from 79 to 82.
IBD's proprietary RS Rating identifies technical performance by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
History reveals that the best-performing stocks tend to have an RS Rating of at least 80 in the early stages of their moves.
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Is Salesforce Stock A Buy?
Salesforce stock is working on a consolidation with a 318.71 buy point. See if the tech stock can clear its 50-day moving average and breakout in heavy trading.
The computer software stock reported 36% earnings growth in its most recent report, while sales growth came in at 11%. The next quarterly results are expected on or around May 29.
Salesforce stock holds the No. 9 rank among its peers in the Computer Software-Enterprise industry group. AudioEye, Bandwidth Cl A and Samsara are among the top 5 highly rated stocks within the group.
