Reinsurance Grp America saw a positive improvement to its Relative Strength (RS) Rating on Thursday, rising from 69 to 72.
IBD's unique rating identifies price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of over 80 as they launch their biggest price moves. See if Reinsurance Grp America can continue to rebound and hit that benchmark.
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Reinsurance Grp America broke out earlier, but is now trading about 4% below the prior 221.53 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 latest consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
While the company's top line growth fell last quarter from 49% to 17%, the bottom line grew 25%, up from 17% in the previous report. Look for the next report on or around Oct. 31.
Reinsurance Grp America earns the No. 2 rank among its peers in the Insurance-Life industry group. Primerica is the No. 1-ranked stock within the group.
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