Essent Group had its Relative Strength (RS) Rating upgraded from 68 to 71 Tuesday — a welcome improvement, but still below the 80 or higher score you look for.
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This proprietary rating measures technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains tend to have an RS Rating of over 80 in the early stages of their moves. See if Essent Group can continue to rebound and clear that threshold.
Essent Group is within a buy zone after breaking past a 60.36 buy point in a cup with handle. The proper buying range is up to 5% above the initial entry. Once a stock hits that benchmark, it's best to hold off investing and wait for it to set up another buying opportunity..
The company showed -1% earnings growth in the latest quarterly report, while sales growth came in at 6%.
The company earns the No. 8 rank among its peers in the Finance-Mortgage & Related Services industry group. NMI Holdings, Finance of America and Guild Holdings are among the top 5 highly rated stocks 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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