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Stocks To Watch: Progress Software Sees RS Rating Rise To 93

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Progress Software ( PRGS ) saw a positive improvement to its Relative Strength ( RS ) Rating on Friday, rising from 87 to 93.

[ibd-display-video id=2881825 width=50 float=left autostart=true] This exclusive rating from Investor's Business Daily identifies price performance 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.

Over 100 years of market history shows that the market's biggest winners typically have an RS Rating of over 80 in the early stages of their moves.

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Progress Software is now considered extended and out of buy range after clearing a 43.07 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 line.

Earnings growth decreased in the most recent report from 9% to 8%. But sales moved higher, from -5% to -1%.

Progress Software earns the No. 2 rank among its peers in the Computer Software-Database industry group. Splunk ( SPLK ) 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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