The Relative Strength (RS) Rating for Quantum moved into a new percentile Thursday, as it got a lift from 67 to 79.
Can You Really Time The Stock Market?
IBD's unique RS Rating identifies technical performance by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research reveals that the market's biggest winners typically have an RS Rating north of 80 as they begin their largest runs. See if Quantum can continue to rebound and hit that benchmark.
Quantum is now considered extended and out of buy range after clearing a 9.07 buy point in a third-stage double bottom. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Quantum reported 0% earnings growth in its most recent report, while sales growth came in at 1%.
Quantum holds the No. 9 rank among its peers in the Computer Software-Storage industry group. Seagate Technology, Penguin Solutions and Micron Technology 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.
RELATED:
Stocks With Rising Relative Strength Ratings
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
