Equity Residential saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, with an upgrade from 66 to 72.
This proprietary rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks compares to other publicly traded companies.
History reveals that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 in the early stages of their moves. See if Equity Residential can continue to show renewed price strength and hit that benchmark.
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Equity Residential is building a double bottom with a 76.46 entry. See if it can clear the breakout price in volume at least 40% above average.
While EPS growth declined in the company's most recent performance report from 3% to 2%, sales rose 3%, up from 2% in the previous report.
Equity Residential holds the No. 76 rank among its peers in the Finance-Property REITs industry group. CareTrust REIT, Essential Prop Realty Tr and Tanger are among the top 5 highly rated stocks within the group.
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