When considering what names to put on your watch list, look for stocks with an 80 or higher RS Rating. Berkshire Hills Bancorp now meets that criteria, with a jump from 80 to 83 Monday.
This proprietary rating measures technical performance by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
Decades of market research reveals that the top-performing stocks typically have an 80 or higher RS Rating in the early stages of their moves.
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While the stock is not near an ideal buying range right now, see if it manages to form and break out from a proper consolidation.
In terms of fundamentals, Berkshire Hills Bancorp has posted three quarters of increasing earnings growth. Revenue gains have also moved higher over the same time frame.
The company holds the No. 18 rank among its peers in the Finance-Savings & Loans industry group. Axos Financial, Magyar Bancorp and Northeast Community Bncp are among the top 5 highly rated stocks within the group.
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