On Wednesday, ICICI Bank ADR got an upgrade to its Relative Strength (RS) Rating, from 69 to 72.
This exclusive rating from Investor's Business Daily tracks 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 holds up against all the other stocks in our database.
History shows that the market's biggest winners tend to have an 80 or better RS Rating in the early stages of their moves. See if ICICI Bank ADR can continue to show renewed price strength and clear that threshold.
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ICICI Bank ADR broke out earlier, but has fallen back below the prior 31.60 entry from a cup with handle. If a stock you're tracking clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and entry price. Also keep in mind that the most recent consolidation is a later-stage base, and those involve more risk.
While revenue growth fell last quarter from 27% to 26%, EPS grew 16%, up from 8% in the previous report.
The company holds the No. 1 rank among its peers in the Banks-Foreign industry group. Banco Latinamer and Cdn Imperial Bk Of Comm are also among the group's highest-rated stocks.
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