FirstEnergy had its Relative Strength (RS) Rating upgraded from 70 to 76 Monday — a welcome improvement, but still shy of the 80 or better score you prefer to see.
Can You Really Time The Stock Market?
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains often have an 80 or better RS Rating as they launch their largest price moves. See if FirstEnergy can continue to rebound and hit that benchmark.
FirstEnergy is in a buy range after breaking past a 44.97 entry in a consolidation. The proper buying range extends 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..
FirstEnergy showed 2% earnings growth in its most recent report, while sales growth came in at 3%. Keep an eye out for the company's next round of numbers on or around Oct. 22.
FirstEnergy holds the No. 7 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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