Fortis saw a welcome improvement to its Relative Strength (RS) Rating on Monday, with an upgrade from 64 to 77.
IBD's proprietary RS Rating tracks technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
History shows that the market's biggest winners tend to have an 80 or better RS Rating as they launch their largest price moves. See if Fortis can continue to rebound and hit that benchmark.
When To Sell Stocks To Lock In Profits And Minimize Losses
Fortis broke out earlier, but has fallen back below the prior 45.44 entry from a cup without handle. If a stock you're tracking climbs above a buy point then declines 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new pattern and breakout. Also keep in mind that the latest pattern is a later-stage base, and those involve more risk.
The company reported 15% earnings growth last quarter, while sales growth came in at 2%.
Fortis holds the No. 11 rank among its peers in the Utility-Diversified industry group. Ameren Corp, Chesapeake Utilities and Alliant Energy 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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