On Wednesday, Freshworks Cl A got an upgrade to its Relative Strength (RS) Rating, from 79 to 82.
IBD's unique rating tracks share price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
History shows that the market's biggest winners often have an RS Rating north of 80 in the early stages of their moves.
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Freshworks Cl A broke out earlier, but has fallen back below the prior 17.66 entry from a consolidation. In the case where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to form. Also keep in mind that the most recent consolidation is a later-stage base, and such bases are more prone to failure.
The company showed 75% earnings growth in its most recent report, while sales growth came in at 22%.
The company earns the No. 16 rank among its peers in the Computer Software-Enterprise industry group. Enfusion, Samsara and Klaviyo are among the top 5 highly rated stocks within the group.
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