When building your watch list, focus on stocks with an 80 or higher RS Rating. monday.com is one stock that just reached the mark, now earning a score of 83.
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This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks matches up against the rest of the market.
History reveals that the top-performing stocks tend to have an RS Rating of above 80 in the early stages of their moves.
monday.com broke out earlier, but has fallen back below the prior 303.00 entry from a cup with handle. If a stock you're tracking clears a buy point then falls 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new base and buy point. Also understand that the most recent consolidation is a later-stage base, and such bases are more prone to failure.
Earnings growth moved up last quarter from 66% to 80%, but revenue fell from 32% to 30%.
monday.com holds the No. 7 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies, Cloudflare and Shopify 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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