On Monday, Zscaler got an upgrade to its Relative Strength (RS) Rating, from 68 to 78.
This proprietary rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the best stocks typically have an RS Rating of at least 80 as they launch their largest climbs. See if Zscaler can continue to rebound and clear that threshold.
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The stock, which is on the IBD Big Cap 20 screen, has risen more than 5% past a 143.63 entry in a first-stage double bottom, meaning it's now out of a proper buy zone. Look for the stock to create a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company posted 24% earnings growth last quarter. Revenue gains came in at 23%.
Zscaler earns the No. 2 rank among its peers in the Computer Software-Security industry group. Fortinet is the No. 1-ranked stock 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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