When considering what names to put on your watch list, look for stocks with an 80 or higher RS Rating. Tenet Healthcare is one stock that just reached the mark, now earning a score of 81.
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This proprietary rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against that of all other stocks.
Over 100 years of market history shows that the market's biggest winners tend to have an 80 or better RS Rating as they begin their biggest climbs.
Tenet Healthcare is now considered extended and out of buy range after clearing a 169.24 buy point in a first-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
In terms of top and bottom line numbers, Tenet Healthcare has posted two quarters of increasing earnings growth. Sales gains have also risen during the same period.
The company holds the No. 1 rank among its peers in the Medical-Hospitals industry group. Nutex Health and HCA Healthcare are also among the group's highest-rated stocks.
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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