On Friday, Mitsubishi UFJ Finl ADR got a positive adjustment to its Relative Strength (RS) Rating, from 78 to 85.
IBD's proprietary rating identifies share price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the best stocks often have an RS Rating north of 80 in the early stages of their moves.
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Mitsubishi UFJ Finl ADR has risen more than 5% past a 10.87 entry in a first-stage cup with handle, meaning it's now out of a proper buy zone. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 100%, compared to -9% in the prior report. Revenue increased from 14% to 20%.
Mitsubishi UFJ Finl ADR holds the No. 12 rank among its peers in the Banks-Money Centers industry group. Morgan Stanley, Goldman Sachs and Barclays ADR are among the top 5 highly rated stocks within the group.
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