When considering what names to put on your watch list, look for stocks with an 80 or higher RS Rating. Atlassian Cl A now meets that criteria, with an increase from 72 to 82 Friday.
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This proprietary rating measures market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history shows that the market's biggest winners often have an RS Rating of at least 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 buy zone in heavy volume.
Atlassian Cl A reported 32% earnings growth in the latest quarterly report. Revenue increased 21%. The next quarterly numbers are expected on or around May 1.
The company holds the No. 2 rank among its peers in the Computer Software-Special Enterprise industry group. Karooooo is the No. 1-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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