One important metric to look for in a stock is an 80 or higher Relative Strength Rating. HDFC Bank ADR now clears that threshold, with a jump from 79 to 84 Friday.
This proprietary rating identifies market leadership by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
Over 100 years of market history shows that the best-performing stocks tend to have an RS Rating north of 80 in the early stages of their moves.
Hone Your Stock-Picking Skills By Focusing On These Factors
HDFC Bank ADR is working on a cup without handle with a 68.50 entry. See if it can break out in heavy trading.
The relative strength has entered new high ground, a sign the stock is outperforming the general market in terms of price performance.
The company posted negative growth for both the top and bottom lines last quarter. HDFC Bank ADR is expected to release its next quarterly numbers on or around Apr. 19.
HDFC Bank ADR holds the No. 7 rank among its peers in the Banks-Foreign industry group. Banco Santander-Chile ADR, ICICI Bank ADR and Credicorp are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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