On Friday, CyberArk Software reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 78 the day before.
IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research reveals that the best stocks often have an RS Rating of over 80 as they begin their biggest runs.
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CyberArk Software is now considered extended and out of buy range after clearing a 283.00 buy point in a second-stage consolidation. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company posted 124% earnings growth last quarter, while sales growth came in at 26%.
The company holds the No. 7 rank among its peers in the Computer Software-Security industry group. Fortinet, CrowdStrike Holdings and OneSpan are among the top 5 highly rated stocks within the group.
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