Penguin Solutions had its Relative Strength (RS) Rating upgraded from 68 to 73 Wednesday — a welcome improvement, but still short of the 80 or higher score you look for.
When To Sell Stocks To Lock In Profits And Minimize Losses
IBD's proprietary rating measures price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the top-performing stocks typically have an 80 or better RS Rating in the early stages of their moves. See if Penguin Solutions can continue to rebound and clear that threshold.
Penguin Solutions is now considered extended and out of buy range after clearing a 19.82 buy point in a first-stage cup with handle. 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.
The company showed 27% earnings growth in the latest quarterly report, while sales growth came in at 8%.
Penguin Solutions holds the No. 4 rank among its peers in the Computer Software-Storage industry group. Micron Technology is the No. 1-ranked stock 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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