Shopify had its Relative Strength (RS) Rating upgraded from 79 to 83 Wednesday.
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IBD's unique RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
Decades of market research shows that the market's biggest winners typically have an 80 or higher RS Rating as they launch their biggest price moves.
While the stock is not near an ideal buy point right now, see if it manages to form and break out from a proper chart pattern.
Earnings growth decreased last quarter from 50% to 29%. But sales moved higher, from 26% to 31%. The company is expected to report its latest earnings and sales numbers on or around May 8.
Shopify earns the No. 4 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies is the top-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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