On Tuesday, Shopify cleared an important technical benchmark, with its Relative Strength (RS) Rating climbing into the 90-plus percentile with an improvement to 92, a rise from 85 the day before.
Here Are 3 Keys For Successful Stock Investing
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 trailing 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the best stocks often have an RS Rating of at least 80 as they begin their largest price moves.
The IBD 50 stock is trying to complete a cup without handle with a 129.38 buy point. See if the stock can clear the breakout price in volume at least 40% above average.
Shopify showed 25% EPS growth in its most recent report, while sales growth came in at 27%.
Shopify holds the No. 8 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies, Nexxen International and Cloudflare 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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