One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Elastic cleared that benchmark Wednesday, with a jump from 72 to 86 Wednesday.
IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the market's biggest winners typically have an RS Rating of above 80 as they begin their biggest climbs.
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Elastic is building a consolidation with a 136.06 entry. See if the stock can break out in heavy trade.
Elastic reported 59% EPS growth in its most recent report. Sales rose 18%. Keep an eye out for the company's next round of numbers on or around Feb. 27.
Elastic holds the No. 1 rank among its peers in the Computer Software-Database industry group. Elastic and Confluent are also among the group's highest-rated stocks.
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