IBD 50 Stock Fortinet Gets Promising RS Upgrade

On Tuesday, Fortinet (FTNT) received an upgrade to its Relative Strength (RS) Rating, from 69 to 72.


When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.

This unique rating tracks technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock’s price performance over the trailing 52 weeks compares to other publicly traded companies.

History shows that the best-performing stocks often have an RS Rating of over 80 in the early stages of their moves. See if Fortinet can continue to show renewed price strength and hit that benchmark.

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The IBD 50 stock has risen more than 5% past a 152.05 entry in a first-stage cup without handle, meaning it’s now out of a proper buy range. Look for Fortinet stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.

Earnings for Fortinet grew 38% last quarter, up from 31% in the prior report. Revenue also increased, from 19% to 21%. Keep an eye out for Fortinet’s next round of numbers on or around May 6.

Fortinet earns the No. 1 rank among its peers in the Computer Software-Security industry group.


IBD Stock Rating Upgrades: Rising Relative Strength

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