When building your watch list, focus on stocks with an 80 or higher RS Rating. Sumitomo Mitsui Finl ADR now meets that criteria, with a jump from 69 to 81 Wednesday.
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This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against that of all other stocks.
Decades of market research shows that the best stocks typically have an RS Rating of over 80 as they begin their biggest climbs.
While Sumitomo Mitsui Finl ADR is not near an ideal entry right now, see if it manages to form and break out of a proper consolidation.
Sumitomo Mitsui Finl ADR reported negative growth for both the top and bottom lines last quarter. The company is expected to release its next quarterly numbers on or around May 14.
Sumitomo Mitsui Finl ADR holds the No. 21 rank among its peers in the Banks-Money Centers industry group. Barclays ADR, NatWest Group ADR and Banco Bilbao Vizcaya ADR 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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