On Thursday, Citizens Financial Group got a positive adjustment to its Relative Strength (RS) Rating, from 86 to 91.
IBD's proprietary RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against the rest of the market.
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 in the early stages of their moves.
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Citizens Financial Group is now considered extended and out of buy range after clearing a 43.96 buy point in a second-stage cup without 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 moving average.
In terms of top and bottom line numbers, Citizens Financial Group has posted three quarters of increasing earnings growth. Sales gains have been less impressive, coming in at -6% last quarter.
The company earns the No. 57 rank among its peers in the Banks-Northeast industry group. Amalgamated Financial, Chain Bridge Bancorp and Metropolitan Bank are among the top 5 highly rated stocks within the group.
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