When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Datadog Inc (DDOG), which had its Relative Strength (RS) Rating upgraded from 78 to 85 Thursday.
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When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD’s unique rating identifies share price action with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the market’s biggest winners often have an RS Rating of at least 80 in the early stages of their moves.
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Datadog stock had a nice earlier move from a cup with handle pattern, but has fallen back hard, along with many other tech stocks. Meaning it’s now out of a proper buy range. Look for the stock to create a new entry point as it seeks to move above overhead moving averages.
Regarding top and bottom line numbers, the company has posted three quarters of increasing earnings growth. Sales gains have also moved higher during the same period.
Datadog stock holds the No. 3 rank among its peers in the Computer Software-Enterprise industry group. Egain (EGAN) is also among the group’s highest-rated stocks.
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Source: https://www.investors.com/research/stock-upgrades-datadog-inc-cl-a-shows-rising-relative-strength/?src=A00220&yptr=yahoo