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Splunk Shows Rising Relative Price Performance; Still Shy Of Key Benchmark

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Splunk ( SPLK ) saw a positive improvement to its Relative Strength ( RS ) Rating on Wednesday, rising from 70 to 73.

[ibd-display-video id=2385970 width=50 float=left autostart=true] This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.

Decades of market research reveals that the best stocks typically have an RS Rating north of 80 in the early stages of their moves. See if Splunk can continue to rebound and hit that benchmark.

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Splunk broke out earlier, but is now around 3% below the prior 69.71 entry from a cup without handle . In the case 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 latest consolidation is a later-stage base, and such bases are more prone to failure.

Earnings grew 60% last quarter, up from 0% in the prior report. Revenue also increased, from 30% to 32%. Look for the next report on or around Nov. 29.

The company earns 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.

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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.

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