Bank of America stock saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 70 to 73.
IBD's unique rating identifies share price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the best stocks tend to have an 80 or higher RS Rating in the early stages of their moves. See if Bank of America stock can continue to rebound and clear that threshold.
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Is Bank of America Stock A Buy?
Bank of America stock is currently trading below its 50-day moving average and is trying to complete a consolidation with a 44.44 entry. See if the bank stock can break out in volume at least 40% higher than normal.
Earnings grew -6% last quarter, up from -19% in the prior report. Revenue also increased, from -2% to 1%. The company is expected to report its latest earnings and sales numbers on or around Oct. 15.
Bank of America stock holds the No. 20 rank among its peers in the Banks-Money Centers industry group. Banco Bilbao Vizcaya ADR, Royal Bank of Canada and Bk of NY Mellon are among the top 5 highly rated stocks within the group. For more industry news, check out "Banks And Financial Stocks: Latest News And Analysis."
