One important metric to look for in a stock is an 80 or higher Relative Strength Rating. First Horizon now clears that threshold, with a jump from 80 to 84 Tuesday.
This unique rating measures market leadership by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
Decades of market research reveals that the market's biggest winners often have an RS Rating of above 80 as they launch their biggest runs.
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First Horizon is trying to complete a flat base with a 16.28 buy point. See if it can break out in volume at least 40% above average.
Although earnings and sales growth came in at -22% and -5%, respectively, in the latest report, that marked two straight quarters of improvement for earnings and two for the top line. First Horizon is expected to report its next quarterly numbers on or around Jul. 17.
The company holds the No. 28 rank among its peers in the Banks-Southeast industry group. First BnCp Puerto Rico, First Citizens Bcshs A and OFG Bancorp are among the top 5 highly rated stocks within the group.
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