On Wednesday, Varonis Systems received a positive adjustment to its Relative Strength (RS) Rating, from 78 to 83.
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IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners tend to have an RS Rating of at least 80 as they launch their biggest runs.
Varonis Systems is now considered extended and out of buy range after clearing a 51.27 buy point in a first-stage cup with handle. 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 moving average.
Varonis Systems reported -40% EPS growth last quarter, while sales growth came in at 17%.
The company earns the No. 2 rank among its peers in the Computer Software-Database industry group. Commvault Systems 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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