Customers Bancorp had its Relative Strength (RS) Rating upgraded from 77 to 82 Tuesday.
IBD's unique RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against that of all other stocks.
Over 100 years of market history shows that the best stocks tend to have an RS Rating north of 80 as they begin their biggest price moves.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to offer and clear a proper buy point.
Customers Bancorp reported -10% earnings growth last quarter, while sales growth came in at 8%. The company is expected to report its latest performance numbers on or around Jul. 24.
Customers Bancorp holds the No. 3 rank among its peers in the Banks-Northeast industry group. Amalgamated Financial is the top-ranked stock within the group.
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