Brookfield Asset Mgmt saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, with an upgrade from 79 to 82.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
History shows that the market's biggest winners typically have an RS Rating north of 80 as they begin their biggest price moves.
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Brookfield Asset Mgmt is within a buy range after moving past a 35.55 buy point in a cup with handle. The proper buying range is up to 5% above the initial entry. It is falling back today along with the rest of the market. Will it be able to overcome the trend and close back in the buy zone?
The company posted 2% earnings growth in its most recent report, while sales growth came in at 7%.
The company earns the No. 22 rank among its peers in the Finance-Investment Management industry group. Burford Capital and Capital Southwest are also among the group's highest-rated stocks.
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