Check Point Software Technologies stock had its Relative Strength (RS) Rating upgraded from 78 to 85 Tuesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history shows that the best stocks typically have an RS Rating north of 80 in the early stages of their moves.
Looking For Winning Stocks? Try This Simple Routine
Is Check Point Software Technologies Stock A Buy?
Check Point Software Technologies stock had dipped below its 50- and 200-day moving average in recent weeks, along with most tech stocks during the stock market rout. While the stock is not near a proper buying range right now, see if it manages to form and break out of a proper chart pattern.
While earnings growth decreased in the company's most recent performance report from 4% to 2%, the top line rose 7%, up from 6% in the prior report.
Check Point Software Technologies stock earns the No. 5 rank among its peers in the Computer Software-Security industry group. Fortinet and Palo Alto Networks are also among the group's highest-rated stocks.
