On Thursday, Zscaler received a positive adjustment to its Relative Strength (RS) Rating, from 80 to 84.
IBD's unique rating measures share price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains often have an RS Rating of at least 80 as they launch their biggest runs.
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The IBD 50 stock has climbed 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 buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Zscaler reported 24% earnings growth in the latest quarterly report. Sales rose 23%.
The company holds 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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