The Relative Strength (RS) Rating for Eastern Bankshares climbed into a new percentile Monday, with an increase from 80 to 83.
This unique 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 that of all other stocks.
Decades of market research reveals that the market's biggest winners tend to have an RS Rating of over 80 in the early stages of their 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 is able to form a chart pattern and break out.
EPS growth declined in the company's most recent report from -12% to -22%, but revenue rose from -8% to 30%.
The company holds the No. 26 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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