On Friday, Tenet Healthcare reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 81, up from 78 the day before.
IBD's proprietary RS Rating measures technical performance by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
Over 100 years of market history reveals that the best stocks often have an 80 or better RS Rating in the early stages of their moves.
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While now is not an ideal time to buy shares, see if the stock goes on to offer and clear an appropriate buy point.
Tenet Healthcare saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 60% to 103%. Revenue rose from 0% to 1%. Keep an eye out for the company's next round of numbers on or around Feb. 12.
Tenet Healthcare earns the No. 1 rank among its peers in the Medical-Hospitals industry group. Select Medical Holdings and Universal Health Cl B are also among the group's highest-rated stocks.
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