Royal Bank of Canada had its Relative Strength (RS) Rating upgraded from 78 to 81 Wednesday.
This unique rating tracks market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research shows that the market's biggest winners typically have an 80 or better RS Rating in the early stages of their moves.
Looking For The Best Stocks To Buy And Watch? Start Here
Royal Bank of Canada has moved more than 5% past a 112.67 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 buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
While revenue growth fell last quarter from 14% to 13%, EPS grew 15%, up from 9% in the previous report. Look for the next report on or around Dec. 4.
The company holds the No. 10 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.
RELATED:
Banks And Financial Stocks: Latest News And Analysis
Which Stocks Are Showing Improved Price Performance?
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!
