Huntington Bancshares had its Relative Strength (RS) Rating upgraded from 65 to 71 Monday -- a welcome improvement, but still short of the 80 or better score you look for.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique rating identifies share price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 as they begin their biggest climbs. See if Huntington Bancshares can continue to show renewed price strength and clear that threshold.
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Huntington Bancshares is building a consolidation with a 17.89 buy point. See if it can clear the breakout price in volume at least 40% higher than normal. Currently it is working to clear multiple moving averages and trying to reverse the downtrend of the RS line.
Earnings review
Huntington Bancshares stock showed 33% earnings growth last quarter, while sales growth came in at 32%. The company is expected to report its latest numbers on or around Apr. 22.
Huntington Bancshares holds the No. 2 rank among its peers in the Banks-Super Regional industry group. Comerica is also among the group's highest-rated stocks.
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