On Thursday, Charter Communications reached an important technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 73 the day before.
IBD's unique RS 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 matches up against the rest of the market.
History shows that the stocks that go on to make the biggest gains typically have an RS Rating of above 80 as they begin their biggest runs.
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While the stock is not near an ideal buy zone right now, see if it is able to form and break out from a proper consolidation.
Charter Communications saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 5% to 7%. Revenue rose from 0% to 2%.
The company earns the No. 2 rank among its peers in the Telecom Servics-Integrated industry group. IDT Corp B is the top-ranked stock within the group.
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