First Horizon saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, rising from 76 to 83.
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IBD's proprietary RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against other publicly traded companies.
Decades of market research reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 in the early stages of their moves.
First Horizon is within a buy zone after moving past a 20.05 entry in a double bottom. Once a stock moves 5% or higher beyond the initial entry, it's considered out of buy range.
Earnings growth slowed last quarter from 34% to 20%. But revenue moved higher, from -9% to -1%.
The company holds the No. 30 rank among its peers in the Banks-Southeast industry group. Southern States Bcshs, Old Point Financial and Red River Bancshares 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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