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IBD Rating Upgrades: Rackspace Technology Flashes Improved Technical Strength

Rackspace Technology (RXT) had its Relative Strength (RS) Rating upgraded from 69 to 72 Thursday — a welcome improvement, but still below the 80 or higher score you prefer to see.

When you’re researching the best stocks to buy and watch, keep a close on eye on relative price strength.

IBD’s proprietary RS Rating measures technical performance by showing how a stock’s price movement over the last 52 weeks measures up against that of the other stocks in our database.

Decades of market research shows that the best-performing stocks typically have an RS Rating of at least 80 as they launch their biggest runs. See if Rackspace Technology can continue to show renewed price strength and clear that threshold.


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Rackspace Technology is still inside a buying range after breaking past a 24.88 buy point in a cup with handle. Once a stock moves 5% or higher beyond the original entry, it’s considered out of buy range.

Rackspace Technology saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 50% to 53%. Revenue rose from 13% to 14%. The company is expected to report its latest earnings and sales numbers on or around Apr. 28.

The company earns the No. 9 rank among its peers in the Computer Software-Enterprise industry group. Concentrix Corp (CNXC) and Dynatrace (DT) are also among the group’s highest-rated stocks.

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