FirstEnergy saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, rising from 69 to 72.
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IBD's proprietary RS Rating measures technical performance by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history shows that the market's biggest winners tend to have an RS Rating north of 80 in the early stages of their moves. See if FirstEnergy can continue to rebound and hit that benchmark.
While the stock is not near a proper buy point right now, see if it is able to form and break out from a proper chart pattern.
The company showed 2% earnings growth last quarter. Revenue increased 3%. Keep an eye out for the company's next round of numbers on or around Oct. 22.
The company holds the No. 8 rank among its peers in the Utility-Electric Power industry group. American Elec Power, Entergy and Korea Electric Power ADR 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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