The Relative Strength (RS) Rating for Enact Holdings jumped into a new percentile Friday, with a rise from 79 to 82.
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This exclusive rating from Investor's Business Daily identifies share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks typically have an RS Rating north of 80 in the early stages of their moves.
Enact Holdings broke out earlier, but is now about 4% below the prior 37.42 entry from a consolidation. If a stock you're watching clears a buy point then falls 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new base and breakout. Also understand that the most recent consolidation is a later-stage base, and those involve more risk.
Earnings growth fell in the most recent quarter from 11% to 6%. But revenue gains moved higher, from 2% to 5%.
Enact Holdings earns the No. 3 rank among its peers in the Finance-Mortgage & Related Services industry group. NMI Holdings is the top-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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