Credit: Shutterstock photoOn Monday, Gartner ( IT ) received a positive adjustment to its Relative Strength ( RS ) Rating , from 70 to 73.
[ibd-display-video id=2368044 width=50 float=left autostart=true] This proprietary rating measures market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks tend to have an RS Rating of above 80 as they launch their biggest climbs. See if Gartner can continue to rebound and clear that threshold.
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Gartner is now considered extended and out of buy range after clearing a 130.12 buy point in a second-stage flat base . 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.
Earnings growth declined in the most recent quarter from 17% to 12%. But revenue gains moved higher, from 38% to 44%. Keep an eye out for the company's next round of numbers on or around Feb. 2.
Gartner holds the No. 2 rank among its peers in the Commercial Services-Market Research industry group. Costar ( CSGP ) is the No. 1-ranked stock within the group.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
