The Relative Strength (RS) Rating for Snowflake (SNOW) jumped into a new percentile Wednesday, as it got a lift from 70 to 74.

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IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matched up against all other stocks.

Over 100 years of market history reveals that the market's biggest winners tend to have an RS Rating north of 80 as they launch their largest runs. See if Snowflake can continue to rebound and clear that threshold.

While Snowflake is not near an ideal buy point right now, see if it goes on to form and break out of a proper consolidation.

Snowflake showed -20% EPS growth in the latest quarterly report. Sales gains came in at 28%.

Snowflake earns the No. 61 rank among its peers in the Computer Software-Enterprise industry group. Datadog (DDOG), Samsara (IOT) and ServiceNow (NOW) are among the top 5 highly rated stocks within the group.