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Tegna Stock Scores RS Rating Upgrade; Still Within Buy Range

On Wednesday, Tegna (TGNA) stock hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 91, up from 83 the day before.




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As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength. IBD’s proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock’s price behavior over the trailing 52 weeks holds up against all the other stocks in our database.

History reveals that the stocks that go on to make the biggest gains often have an 80 or higher RS Rating in the early stages of their moves.


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Is Tegna Stock A Buy?

Tegna stock is still inside a buy range after moving past a 21.61 entry in a cup without handle. Once a stock moves 5% or higher beyond the initial entry, it’s considered out of buy range. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips. Also, check out “Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks.”

 

Top and bottom line growth moved higher in the media firm’s most recent quarter. Earnings were up 317%, compared to 21% in the prior report. Revenue increased from 6% to 27%.

Tegna stock holds the No. 1 rank among its peers in the Media-Radio/TV industry group. Nexstar Media (NXST) and Gray Television (GTN) are also among the group’s highest-rated stocks.

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