On Thursday, Pinnacle Finl Partners cleared an important performance benchmark, with its Relative Strength (RS) Rating rising into the 90-plus percentile with an upgrade to 93, a rise from 89 the day before.
IBD's unique RS Rating measures market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history reveals that the best stocks often have an RS Rating north of 80 in the early stages of their moves.
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Pinnacle Finl Partners is now considered extended and out of buy range after clearing a 92.33 buy point in a first-stage consolidation. 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 moving average.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -9% to 4%. Revenue rose from -25% to 14%.
Pinnacle Finl Partners holds the No. 15 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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