Personalized financial planning company Ameriprise Financial is one of the few but growing number of companies that is above its 50-day line. And it's quickly closing on its 200 day. On Wednesday, the IBD Relative Strength (RS) Rating for Ameriprise stock climbed eight points, from 79 to 87.
Minneapolis-based Ameriprise also provides advisory and broker services to businesses and individuals. It's one of the companies participating in this week's market recovery attempt. History reveals that the market's biggest winners often have an RS Rating north of 80 as they begin their biggest runs, so the rating bump up indicates its chances for launching another big run are rising.
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Ameriprise Stock Bottomed, Began Climbing
Ameriprise stock bottomed in midsummer, dropping to 219.99 on July 14. It's ridden a roller coaster since then, climbing high then dipping for a bit. On Wednesday, it closed at 276, up about 26% in the last 10 weeks. Ameriprise stock is building a consolidation with a 332.47 buy point. See if the stock can clear the breakout price in heavy trading.
Meanwhile, Ameriprise Financial posted 10% EPS growth last quarter, to $5.81 per share. The prior three quarters its EPS grew 299%, 36% and 10%. In its most recent quarter it reported a mild 3% increase in revenue to $3.51 billion. Keep an eye out for the company's next round of numbers on or around Oct. 26.
Peers In Top Echelon Of Finance/Broker Stocks
Ameriprise Financial holds the No. 6 rank among its peers in the Finance-Investment Banking/Brokers industry group. LPL Financial and Charles Schwab are also among the group's highest-rated stocks.
Strong relative stock price strength is a key indicator when looking for the best stocks to buy and watch.
This exclusive rating from Investor's Business Daily tracks share price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
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