Stock Upgrades: Vonage Shows Rising Relative Strength
In a welcome move, Vonage saw its Relative Strength Rating rise from 67 to 78 on Tuesday.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
This unique rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks compares to the rest of the market.
Over 100 years of market history shows that the top-performing stocks typically have an RS Rating north of 80 as they begin their biggest price moves. See if Vonage can continue to rebound and clear that threshold.
Vonage is not currently showing a potential buy point. See if the stock goes on to build a promising consolidation that could kick off a new climb.
In terms of top and bottom line numbers, the company has posted two quarters of accelerating earnings growth. Top line growth has also moved higher over the same time frame.
The company holds the No. 2 rank among its peers in the Telecom Services-Wireless industry group. Vonage and P D V Wireless are also among the group's highest-rated stocks.