Gap Up Gain Followed Latest Earnings Report - Wednesday, February 7, 2024
Gap Up Gain Followed Latest Earnings Report - Wednesday, February 7, 2024
Tenable Holdings (TEMB +$2.52 or 5.29% to $50.15) was highlighted in yellow in the earlier mid-day report (read here) with a pivot point cited based on its 8/01/23 high plus 10 cents. It pulled back from its early high after hitting a new 52-week high and there was +225% above average volume behind the gain and close above the pivot point clinching a technical buy signal.
TENB has a 98 Earnings Per Share Rating. Bullish action came after it reported earnings for the Dec '23 quarter +108% on +16% sales revenues versus the year-ago period. Volume and volatility often increase near earnings news. Its prior quarterly and annual earnings history (C and A criteria) is a good match with the fact-based investment system's fundamental guidelines.
It hails from the Computer Sftwr-Security group which is currently ranked 4th on the 197 Industry Groups list (L criteria). There are only 116.9 million shares outstanding (S criteria). The number of top-rated funds owning its shares rose from 551 in Jun '23 to 569 in Dec '23, and its currently Up/Down Volume Ratio of 1.7 is an unbiased indication its shares have been under accumulation over the past 50 days.
