One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Open Text now clears that threshold, with a jump from 79 to 82 Thursday.
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This exclusive rating from Investor's Business Daily identifies price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the market's biggest winners tend to have an RS Rating of above 80 as they launch their biggest climbs.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to establish and enter a buying range in heavy volume.
Although earnings and sales growth came in at -1% and -4%, respectively, in the latest report, that showed improvement for both the top and bottom lines.
The company earns the No. 9 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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