The Relative Strength (RS) Rating for Quantum entered a new percentile Friday, with a rise from 79 to 88.
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IBD's proprietary RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
History reveals that the top-performing stocks often have an 80 or higher RS Rating in the early stages of their moves.
Quantum is now considered extended and out of buy range after clearing a 9.07 buy point in a third-stage double bottom. 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 0% EPS growth in its most recent report. Sales rose 1%.
Quantum earns the No. 9 rank among its peers in the Computer Software-Storage industry group. Seagate Technology, Penguin Solutions and Micron Technology are among the top 5 highly rated stocks 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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