When considering what names to put on your watch list, focus on stocks with an 80 or higher RS Rating. Cogent Communications just met that criteria with a new score of 81.
IBD's proprietary RS Rating identifies market leadership by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
Decades of market research shows that the market's biggest winners typically have an RS Rating of at least 80 in the early stages of their moves.
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Cogent Communications has moved more than 5% past a 76.42 entry in a first-stage cup with handle, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.
Cogent Communications showed 0% earnings growth in its most recent report. Revenue gains came in at 9%. The company is expected to report its latest results on or around Nov. 7.
The company earns the No. 2 rank among its peers in the Telecom Services-Cable/Satellite industry group. Comcast Cl A is the No. 1-ranked stock within the group.
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