On Thursday, Confluent got a positive adjustment to its Relative Strength (RS) Rating, from 73 to 91.
This exclusive rating from Investor's Business Daily identifies share price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the market's biggest winners often have an 80 or better RS Rating at the beginning of a new run.
Looking For The Best Stocks To Buy And Watch? Start Here
Confluent is not currently offering a proper buying opportunity. See if the stock goes on to form a chart pattern that could launch a new move.
The company showed -10% earnings growth in its most recent report, while sales growth came in at 23%.
Confluent holds the No. 8 rank among its peers in the Computer Software-Database industry group. Commvault Systems, Elastic and Oracle are among the top 5 highly rated stocks within the group.
RELATED:
Stocks With Rising Relative Strength Ratings
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
