Cdn Imperial Bk Of Comm saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, rising from 75 to 81.
IBD's proprietary RS Rating tracks market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an RS Rating of above 80 in the early stages of their moves.
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Cdn Imperial Bk Of Comm is now considered extended and out of buy range after clearing a 50.86 buy point in a first-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The company showed 22% EPS growth in its most recent report, while sales growth came in at 17%.
The company earns the No. 12 rank among its peers in the Banks-Foreign industry group. ICICI Bank ADR, Banco Santander-Chile ADR and Banco Latinamer are among the top 5 highly rated stocks 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.
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