Hovnanian Enterprises A had its Relative Strength (RS) Rating upgraded from 75 to 86 Wednesday.
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IBD's proprietary RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
History shows that the best stocks often have an RS Rating of above 80 as they begin their biggest price moves.
While Hovnanian Enterprises A is not near a proper buying range right now, see if it goes on to form and break out from a proper chart pattern.
Hovnanian Enterprises A posted negative growth for both the top and bottom lines last quarter. Hovnanian Enterprises A is expected to report its next quarterly numbers on or around Aug. 21.
The company earns the No. 6 rank among its peers in the Building-Residential/Commercial industry group. Comstock Holding Cl A, Millrose Properties Cl A and Taylor Morrison Home 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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