One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Freshworks just hit that mark, with a jump from 73 to 83 Thursday.
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 market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matches up against that of all other stocks.
Decades of market research shows that the market's biggest winners typically have an RS Rating north of 80 as they begin their biggest price moves.
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Freshworks has risen more than 5% past a 16.60 entry in a first-stage cup with handle, meaning it's now out of a proper buy range. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line. Note the earnings news below.
Earnings Due Soon
Freshworks reported 0% EPS growth in its most recent report, while sales growth came in at 33%. The company is expected to report its latest numbers on or around Feb. 7.
Freshworks holds the No. 69 rank among its peers in the Computer Software-Enterprise industry group. Model N and ServiceNow are also among the group's highest-rated stocks.
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