RenaissanceRe Hldgs had its Relative Strength (RS) Rating upgraded from 68 to 73 Wednesday — a welcome improvement, but still shy of the 80 or higher score you look for.
IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the market's biggest winners often have an 80 or better RS Rating as they launch their largest runs. See if RenaissanceRe Hldgs can continue to rebound and hit that benchmark.
How To Invest In Stocks In Both Bull And Bear Markets
RenaissanceRe Hldgs has moved more than 5% past a 239.42 entry in a first-stage flat base, meaning it's now out of a proper buy range. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
Earnings growth declined last quarter from 40% to 22%. But sales moved higher, from 53% to 116%.
RenaissanceRe Hldgs holds the No. 9 rank among its peers in the Insurance-Property/Casualty/Title industry group. Mercury General, Allstate and Intl General Insurance are among the top 5 highly rated stocks within the group.
RELATED:
IBD Stock Rating Upgrades: Rising Relative Strength
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
