On Thursday, First Citizens Bcshs A reached a noteworthy technical benchmark, with its Relative Strength (RS) Rating rising into the 80-plus percentile with an upgrade to 87, an increase from 74 the day before.
IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Decades of market research reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of over 80 in the early stages of their moves.
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First Citizens Bcshs A is trading within a buy range after moving past a 2,174.80 entry in a consolidation. The proper buying range is up to 5% above the initial entry. Once a stock moves above that range, it's best to wait for it to set up another buying opportunity.
The company reported negative growth for both the top and bottom lines last quarter.
First Citizens Bcshs A holds the No. 20 rank among its peers in the Banks-Southeast industry group. MetroCity Bankshares, USCB Financial Holdings and Village Bank & Trust are among the top 5 highly rated stocks within the group.
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