Renasant saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, rising from 77 to 82.
IBD's proprietary RS Rating measures technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
History shows that the market's biggest winners often have an RS Rating of above 80 as they launch their biggest runs.
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Renasant broke out earlier, but has fallen back below the prior 39.47 entry from a cup without handle. If a stock you're tracking clears a buy point then falls 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new pattern and breakout. Also understand that the most recent pattern is a later-stage base, and those involve more risk.
While the company's top line growth fell last quarter from 33% to 14%, EPS grew -4%, up from -5% in the previous report.
Renasant holds the No. 42 rank among its peers in the Banks-Southeast industry group. USCB Financial Holdings, First Community and Community Trust Bancorp are among the top 5 highly rated stocks within the group.
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