On Monday, Upwork reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 80 the day before.
IBD's unique RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
Decades of market research reveals that the top-performing stocks often have an 80 or better RS Rating in the early stages of their moves.
Risk Management In The Stock Market: How Much Money To Invest Now
Upwork is not currently offering a proper buying opportunity. See if the stock goes on to form a sound pattern that could kick off a new price move.
While the company's top line growth fell last quarter from 10% to 4%, earnings-per-share grew 50%, up from 38% in the previous report. The company is expected to report its latest performance numbers on or around Apr. 30.
Upwork holds the No. 3 rank among its peers in the Commercial Services-Staffing industry group. Barrett Business Services 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.
RELATED:
Which Stocks Are Showing Improved Price Performance?
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!
