On Tuesday, Banco Macro ADR reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 96, up from 88 the day before.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks stacks 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 RS Rating of over 80 in the early stages of their moves.
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Banco Macro ADR has moved more than 5% past a 60.51 entry in a second-stage cup with handle, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.
EPS growth fell last quarter from 43% to -91%, but sales rose from -72% to -44%.
The company holds the No. 8 rank among its peers in the Banks-Foreign industry group. ICICI Bank ADR, Banco Latinamer and Banco Santander-Chile ADR 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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