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Concentrix Stock Shows Rising Price Performance With Jump To 83 RS Rating

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 Concentrix Corp (CNXC), which had its Relative Strength (RS) Rating upgraded from 80 to 83 Thursday.




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As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.

This exclusive rating from Investor’s Business Daily measures price action with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price movement over the trailing 52 weeks stacks up against all the other stocks in our database.

History shows that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 as they launch their biggest price moves.


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Is Concentrix Stock A Buy?

Concentrix stock broke out earlier, but has fallen back below the prior 163.38 entry from a flat base. In the scenario where a stock breaks out then falls 7% or more below the entry price, it’s considered a failed breakout. If that happens, it’s best to wait for a new pattern to take shape. Also keep in mind that the latest pattern is a later-stage base, and those involve more risk. 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.”

 

Taking a look at top and bottom line numbers, Concentrix Corp has posted rising EPS growth over the last two quarters. Top line growth has also moved higher during the same period.

The company earns the No. 2 rank among its peers in the Computer Software-Enterprise industry group. Concentrix Corp (CNXC) and QAD (QADB) are also among the group’s highest-rated stocks.

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