On Thursday, Tenet Healthcare stock received an upgrade to its Relative Strength (RS) Rating, from 80 to 84.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating measures technical performance by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
History shows that the market's biggest winners tend to have an RS Rating north of 80 in the early stages of their moves.
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Is Tenet Healthcare Stock A Buy?
Tenet Healthcare stock is within a buy range after clearing a 62.55 buy point in a consolidation. The proper buying range is up to 5% above the initial entry. Once a stock hits that benchmark, it's best to hold off investing and wait for it to set up another buying opportunity.
The hospital operator saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -28% to -27%. Revenue rose from -2% to 3%. Look for the next report on or around Apr. 25.
Tenet Healthcare stock earns the No. 5 rank among its peers in the Medical-Hospitals industry group. Surgery Partners and Universal Health Cl B are also among the group's highest-rated stocks.
