In a welcome move, Blackstone saw its Relative Strength Rating improve from 69 to 74 on Wednesday.
IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 as they launch their largest runs. See if Blackstone can continue to rebound and hit that benchmark.
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Blackstone is now considered extended and out of buy range after clearing a 142.69 buy point in a first-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
In terms of top and bottom line numbers, Blackstone has posted rising EPS growth in each of the last three reports. Top line growth has also moved higher over the same time frame.
Blackstone holds the No. 22 rank among its peers in the Finance-Investment Management industry group. Nuveen Churchill Direct, P10 and Equitable Holdings are among the top 5 highly rated stocks within the group.
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