On Tuesday, Loews Corp reached an important technical milestone, with its Relative Strength (RS) Rating climbing into the 80-plus percentile with an upgrade to 81, up from 78 the day before.
IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the market's biggest winners typically have an 80 or better RS Rating in the early stages of their moves.
Looking For The Best Stocks To Buy And Watch? Start Here
Loews Corp broke out earlier, but has fallen back below the prior 87.45 entry from a flat base. In the case where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to form. Also understand that the most recent pattern is a later-stage base, and those involve more risk.
Loews Corp posted 4% EPS growth in the latest quarterly report, while sales growth came in at 7%.
The company earns the No. 4 rank among its peers in the Insurance-Diversified industry group. Bowhead Specialty is the No. 1-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
RELATED:
Which Stocks Are Showing Rising Relative Strength?
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!
