Penguin Solutions saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, with an increase from 70 to 73.
IBD's unique rating tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners often have an 80 or higher RS Rating in the early stages of their moves. See if Penguin Solutions can continue to show renewed price strength and hit that benchmark.
How To Invest In Stocks In Both Bull And Bear Markets
While Penguin Solutions is not near an ideal buy point right now, see if it is able to form and break out of a proper base.
Regarding fundamentals, the company has posted three quarters of increasing earnings growth. Top line growth has also increased over the same time frame.
The company holds the No. 5 rank among its peers in the Computer Software-Storage industry group. Pure Storage Cl A is the top-ranked stock within the group.
RELATED:
Which Stocks Are Showing Improved Price Performance?
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
