Seacoast Banking of FL had its Relative Strength (RS) Rating upgraded from 65 to 82 Thursday.
This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
History shows that the best-performing stocks typically have an 80 or better RS Rating in the early stages of their moves.
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Seacoast Banking of FL is still within a buy range after moving past a 29.44 buy point in a cup with handle. The proper buying range extends to 5% above the initial entry. Once a stock moves above that range, it's best to hold off investing and wait for it to set up another buying opportunity.
Although earnings and sales growth came in at -10% and -5%, respectively, in the latest report, that marked one quarter of acceleration for earnings and two for revenue.
The company holds the No. 60 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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