Procore Technologies saw a positive improvement to its Relative Strength (RS) Rating on Thursday, rising from 70 to 78.
IBD's proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks compares to the rest of the market.
Decades of market research shows that the top-performing stocks often have an RS Rating of over 80 in the early stages of their moves. See if Procore Technologies can continue to show renewed price strength and clear that threshold.
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Procore Technologies is trying to complete a cup without handle with an 83.35 entry. See if it can clear the breakout price in heavy volume.
The company showed 167% earnings growth in the latest quarterly report, while sales growth came in at 19%.
Procore Technologies holds the No. 9 rank among its peers in the Computer Software-Enterprise industry group. Klaviyo, ServiceNow and Palantir Technologies are among the top 5 highly rated stocks within the group.
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