On Thursday, CVS Health reached an important technical milestone, with its Relative Strength (RS) Rating moving into the 80-plus percentile with an improvement to 83, an increase from 79 the day before.
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This exclusive rating from Investor's Business Daily measures share price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the best stocks often have an RS Rating of at least 80 as they launch their biggest price moves.
CVS Health has climbed more than 5% past a 70.23 entry in a first-stage cup without handle, meaning it's now out of a proper buy range. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
Earnings growth declined in the most recent quarter from 72% to -1%. But revenue gains moved higher, from 7% to 8%.
CVS Health earns the No. 2 rank among its peers in the Medical-Managed Care industry group. Alignment Healthcare is the No. 1-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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