On Friday, Asana reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 80, up from 65 the day before.
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IBD's unique RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the best stocks tend to have an 80 or better RS Rating in the early stages of their moves.
While it's not currently an ideal time to buy shares, see if the stock manages to form a base and break out.
Asana showed 0% EPS growth last quarter. Revenue rose 10%. Look for the next report on or around Jun. 3.
Asana earns the No. 34 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies, Cloudflare and ServiceNow 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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