[ibd-display-video id=2102289 width=50 float=left autostart=true] IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
History shows that the best-performing stocks tend to have an 80 or better RS Rating as they begin their largest price moves. See if Splunk can continue to rebound and hit that benchmark.
Splunk broke out earlier, but has fallen back below the prior 69.71 entry from a cup without handle . In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to form. Also understand that the most recent consolidation is a later-stage base, and those involve more risk.
Splunk saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 0% to 60%. Revenue rose from 30% to 32%. The next quarterly results are expected on or around Nov. 29.
The company holds the No. 2 rank among its peers in the Computer Software-Database industry group. Progress Software ( PRGS ) is the top-ranked stock within the group.