The Relative Strength (RS) Rating for Snowflake climbed into a higher percentile Wednesday, as it got a lift from 70 to 73.

When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.

IBD's unique RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.

Decades of market research shows that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 as they begin their biggest climbs. See if Snowflake can continue to rebound and hit that benchmark.

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Snowflake is not currently near a potential buy zone. See if the stock goes on to build a sound pattern that could kick off a new climb.

Snowflake showed -128% earnings growth in the latest quarterly report. Sales gains came in at 104%.

The company earns the No. 64 rank among its peers in the Computer Software-Enterprise industry group. Docusign and Dynatrace are also among the group's highest-rated stocks.