On Friday, GitLab Cl A hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 78 the day before.
IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against the rest of the market.
Decades of market research shows that the market's biggest winners tend to have an 80 or better RS Rating in the early stages of their moves.
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GitLab Cl A is not currently offering a proper buying opportunity. See if the stock goes on to form a promising consolidation that could kick off a new climb.
The company posted 156% EPS growth in its most recent report. Revenue gains came in at 31%.
The company holds the No. 1 rank among its peers in the Computer-Technical Services industry group. Hewlett Packard Ent and Dave are also among the group's highest-rated stocks.
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