The Relative Strength (RS) Rating for MGIC Investment headed into a new percentile Tuesday, as it got a lift from 69 to 75.
IBD's unique RS Rating measures market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
History shows that the stocks that go on to make the biggest gains tend to have an 80 or better RS Rating as they launch their biggest runs. See if MGIC Investment can continue to show renewed price strength and hit that benchmark.
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While the stock is not near a proper buying range right now, see if it goes on to form and break out from a proper base.
Earnings growth increased last quarter from 13% to 20%. But sales fell from 5% to 3%.
The company holds the No. 23 rank among its peers in the Insurance-Property/Casualty/Title industry group. Mercury General, Intl General Insurance and Skyward Specialty Ins are among the top 5 highly rated stocks within the group.
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