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Confluent Stock Joins Elite Club Of Stocks With RS Ratings Over 90

Confluent (CFLT) stock saw a positive improvement to its Relative Strength (RS) Rating on Thursday, rising from 89 to 93. The computer database firm debut on Jun. 24.




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When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD’s unique RS Rating tracks technical performance by showing how a stock’s price movement over the last 52 weeks compares to that of the other stocks in our database.

Over 100 years of market history reveals that the top-performing stocks often have an RS Rating of at least 80 in the early stages of their moves.


Looking For Winning Stocks? Try This Simple Routine


Is Confluent Stock A Buy?

Confluent stock is now considered extended and out of buy range after clearing a 58.09 buy point in a first-stage cup without handle. 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 moving average. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips. Also, check out “Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks.”

 

Earnings-per-share growth dropped last quarter from 0% to -250%, but sales rose from 51% to 64%. The computer database firm expected to report its latest results on or around Oct. 28.

Confluent stock holds the No. 11 rank among its peers in the Computer Software-Database industry group. Progress Software (PRGS), Workiva (WK) and Dropbox (DBX) are among the top 5 highly rated stocks within the group.

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