One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Unity Software just hit that mark, with a jump from 79 to 85 Monday.
Hone Your Stock-Picking Skills By Focusing On These Factors
IBD's unique RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
History reveals that the best stocks tend to have an RS Rating north of 80 in the early stages of their moves.
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.
While earnings-per-share growth fell in the company's most recently reported quarter from 0% to -14%, the top line grew -6%, up from -25% in the previous report.
Unity Software holds the No. 8 rank among its peers in the Computer Software-Design industry group. Autodesk, Cadence Design Systems and Bentley Systems 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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