On Wednesday, Upwork hit an important technical benchmark, with its Relative Strength (RS) Rating jumping into the 90-plus percentile with an upgrade to 92, up from 88 the day before.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
History reveals that the best stocks often have an RS Rating of at least 80 at the beginning of a new price run.
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Upwork is trying to complete a consolidation with an 18.14 entry. See if the stock can clear the breakout price in volume at least 40% above average.
While the company's top line growth fell last quarter from 10% to 4%, the bottom line grew 50%, up from 38% in the prior report.
Upwork holds the No. 1 rank among its peers in the Commercial Services-Staffing industry group. Mastech Digital and Barrett Business Services are also among the group's highest-rated stocks.
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