One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Fortinet stock now clears that threshold, with a jump from 79 to 83 Friday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against that of all other stocks.
Decades of market research shows that the best-performing stocks typically have an 80 or higher RS Rating as they begin their biggest runs.
See How IBD Helps You Make More Money In Stocks
Is Fortinet Stock A Buy?
Fortinet stock has pulled back along with the rest of the stock market correction. The cybersecurity stock is working on a consolidation with a 371.87 buy point. See if the stock can clear the breakout price in heavy trading.
The cybersecurity firm showed 16% earnings growth last quarter, while sales growth came in at 34%.
Fortinet stock earns the No. 4 rank among its peers in the Computer Software-Security industry group. Qualys and Mimecast are also among the group's highest-rated stocks.
