Eastern Bankshares had its Relative Strength (RS) Rating upgraded from 80 to 83 Wednesday.
This unique rating tracks technical performance by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
Over 100 years of market history reveals that the top-performing stocks typically have an RS Rating north of 80 as they launch their biggest runs.
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Eastern Bankshares is trying to complete a cup with handle with a 19.16 entry. See if it can clear the breakout price in volume at least 40% above average.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -22% to 240%. Revenue rose from 30% to 35%.
Eastern Bankshares holds the No. 7 rank among its peers in the Banks-Northeast industry group. Northeast Bank, The Bancorp and NB Bancorp are among the top 5 highly rated stocks within the group.
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