On Wednesday, CyberArk Software hit an important technical benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 91, up from 84 the day before.
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This exclusive rating from Investor's Business Daily measures price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners tend to have an RS Rating north of 80 in the early stages of their moves.
CyberArk Software is now considered extended and out of buy range after clearing a 406.50 buy point in a third-stage cup with handle. 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.
Top and bottom line growth moved higher last quarter. Earnings were up 31%, compared to -1% in the prior report. Revenue increased from 41% to 43%. Keep an eye out for the company's next round of numbers on or around Aug. 7.
CyberArk Software earns the No. 3 rank among its peers in the Computer Software-Security industry group. Zscaler is the No. 1-ranked stock 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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