On Wednesday, Alignment Healthcare reached an important technical milestone, with its Relative Strength (RS) Rating entering into the 80-plus percentile with an improvement to 85, a rise from 78 the day before.
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This proprietary rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
History shows that the best-performing stocks typically have an 80 or better RS Rating as they launch their biggest climbs.
While Alignment Healthcare is not near an ideal entry right now, see if it manages to form and break out of a proper chart pattern.
Alignment Healthcare showed 0% earnings growth last quarter, while sales growth came in at 47%. The next quarterly numbers are expected on or around Jul. 31.
The company holds the No. 5 rank among its peers in the Medical-Managed Care industry group. Cigna Group is the top-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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