On Wednesday, Bank of Montreal earned an upgrade to its Relative Strength (RS) Rating, from 73 to 85.
This exclusive rating from Investor's Business Daily tracks share price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the best-performing stocks tend to have an 80 or higher RS Rating in the early stages of their moves.
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Bank of Montreal is trading within a buy zone after breaking past a 101.55 entry in a double bottom. The proper buying range extends to 5% above the initial entry. Once a stock hits that benchmark, it's best to hold off investing and wait for it to set up another buying opportunity.
Earnings grew 19% last quarter, up from -35% in the prior report. Revenue also increased, from 8% to 21%.
The company earns the No. 20 rank among its peers in the Banks-Money Centers industry group. Barclays ADR, Bk of NY Mellon and NatWest Group ADR are among the top 5 highly rated stocks within the group.
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