On Tuesday, Amdocs reached a key technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 78 the day before.
This proprietary rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
History shows that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 in the early stages of their moves.
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Amdocs is working on a flat base with a 93.34 entry. See if it can clear the breakout price in volume at least 40% higher than normal.
The company posted 6% earnings growth in the latest quarterly report, while sales growth came in at -11%.
Amdocs holds the No. 10 rank among its peers in the Computer-Technical Services industry group. IBEX, Gorilla Technology Group and Innodata are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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