One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Varonis Systems just hit that mark, with a jump from 79 to 82 Tuesday.
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IBD's unique RS Rating measures market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history reveals that the best-performing stocks tend to have an 80 or higher RS Rating as they launch their biggest runs.
Varonis Systems has risen more than 5% past a 51.27 entry in a first-stage cup with 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.
The company reported -40% earnings growth in the latest quarterly report. Sales gains came in at 17%.
Varonis Systems earns the No. 3 rank among its peers in the Computer Software-Database industry group. Commvault 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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