On Wednesday, Credicorp hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 79 the day before.
IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the market's biggest winners often have an 80 or better RS Rating as they begin their biggest price moves.
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Credicorp is working on a flat base with a 200.00 buy point. See if the stock can clear the breakout price in heavy volume.
Earnings grew 26% last quarter, up from -10% in the prior report. Revenue also increased, from 2% to 9%. Keep an eye out for the company's next round of numbers on or around Feb. 10.
The company holds the No. 5 rank among its peers in the Banks-Foreign industry group. Banco Latinamer is the top-ranked stock within the group.
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