Qualys had its Relative Strength (RS) Rating upgraded from 64 to 73 Monday — a welcome improvement, but still shy of the 80 or higher score you prefer to see.
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IBD's proprietary RS Rating tracks market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history shows that the top-performing stocks often have an RS Rating of at least 80 as they begin their largest price moves. See if Qualys can continue to show renewed price strength and clear that threshold.
Qualys broke out earlier, but has fallen back below the prior 150.58 entry from a double bottom. In the case where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to form. Also understand that the most recent pattern is a later-stage base, and such bases are more prone to failure.
The company posted 15% earnings growth in its most recent report. Sales gains came in at 10%.
Qualys earns the No. 5 rank among its peers in the Computer Software-Security industry group. Zscaler 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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