The Relative Strength (RS) Rating for Home BancShares entered a new percentile Wednesday, with an increase from 78 to 82.
IBD's unique RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against the rest of the market.
Over 100 years of market history reveals that the top-performing stocks often have an RS Rating of above 80 as they begin their biggest climbs.
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Home BancShares broke out earlier, but has fallen back below the prior 30.88 entry from a cup with handle. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to take shape. Also understand that the most recent consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
Home BancShares reported 9% earnings growth in its most recent report. Sales increased 5%.
The company holds the No. 35 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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