In a welcome move, Royal Bank of Canada saw its Relative Strength Rating improve from 69 to 74 on Wednesday.
IBD's unique 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 matched up against all other stocks.
Decades of market research reveals that the stocks that go on to make the biggest gains typically have an 80 or better RS Rating as they begin their largest price moves. See if Royal Bank of Canada can continue to rebound and hit that benchmark.
When To Sell Stocks To Lock In Profits And Minimize Losses
Royal Bank of Canada is building a flat base with a 128.05 buy point. See if it can break out in volume at least 40% above average.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 15% to 16%. Revenue rose from 13% to 19%. Look for the next report on or around Feb. 27.
The company earns the No. 7 rank among its peers in the Banks-Money Centers industry group. Barclays ADR, Bk of NY Mellon and NatWest Group ADR are among the top 5 highly rated stocks within the group.
RELATED:
Banks And Financial Stocks: Latest News And Analysis
Stocks With Rising Relative Strength Ratings
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
