One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Corebridge Financial now clears that threshold, with a jump from 78 to 81 Wednesday.
IBD's proprietary rating identifies price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the best-performing stocks tend to have an 80 or better RS Rating in the early stages of their moves.
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Corebridge Financial broke out earlier, but has fallen back below the prior 33.82 entry from a cup with handle. If a stock you're tracking clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and entry price. Also keep in mind that the latest consolidation is a later-stage base, and such bases are more prone to failure.
While earnings growth fell in the company's most recent performance report from 31% to 18%, sales grew 97%, up from -52% in the prior report.
Corebridge Financial earns the No. 2 rank among its peers in the Insurance-Life industry group. Lincoln National is the top-ranked stock within the group.
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