Dropbox had its Relative Strength (RS) Rating upgraded from 70 to 77 Wednesday — a welcome improvement, but still shy of the 80 or higher score you prefer to see.
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This exclusive rating from Investor's Business Daily tracks price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an RS Rating north of 80 in the early stages of their moves. See if Dropbox can continue to show renewed price strength and hit that benchmark.
Dropbox is now considered extended and out of buy range after clearing a 28.68 buy point in a first-stage consolidation. 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 line.
Dropbox showed 18% EPS growth in its most recent report, while sales growth came in at -1%.
The company earns the No. 8 rank among its peers in the Computer Software-Database industry group. MongoDB, Commvault Systems and Oracle 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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