The Relative Strength (RS) Rating for Synopsys jumped into a new percentile Monday, with a rise from 80 to 83.
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IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the market's biggest winners often have an RS Rating north of 80 in the early stages of their moves.
Synopsys has climbed more than 5% past a 573.77 entry in a second-stage cup without handle, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
Top and bottom line growth moved higher last quarter. Earnings were up 22%, compared to -10% in the prior report. Revenue increased from -4% to 10%. The next quarterly results are expected on or around Sep. 9.
The company holds the No. 2 rank among its peers in the Computer Software-Design industry group. Cadence Design Systems is the top-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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