On Tuesday, Enact Holdings got a positive adjustment to its Relative Strength (RS) Rating, from 67 to 72.
When To Sell Stocks To Lock In Profits And Minimize Losses
This unique rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks compares to other publicly traded companies.
Decades of market research reveals that the market's biggest winners tend to have an 80 or higher RS Rating as they begin their largest price moves. See if Enact Holdings can continue to show renewed price strength and clear that threshold.
Enact Holdings broke out earlier, but has fallen back below the prior 37.56 entry from a flat base. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to form. Also keep in mind that the latest consolidation is a later-stage base, and such bases are more prone to failure.
Earnings growth decreased in the most recent quarter from 11% to 6%. But revenue gains moved higher, from 2% to 5%. The next quarterly results are expected on or around Aug. 5.
Enact Holdings earns the No. 5 rank among its peers in the Finance-Mortgage & Related Services industry group. NMI Holdings 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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