One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Ryan Specialty Holdings stock now clears that threshold, with a jump from 76 to 81 Wednesday.
This unique rating measures market leadership by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
Over 100 years of market history reveals that the best stocks often have an RS Rating of above 80 as they begin their biggest climbs.
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Is Ryan Specialty Holdings Stock A Buy?
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the insurance stock manages to form a chart pattern and break out.
Ryan Specialty Holdings posted 30% earnings growth last quarter, while sales growth came in at 22%. The company is expected to report its latest results on or around May 2.
The company earns the No. 1 rank among its peers in the Insurance-Brokers industry group. BRP Group Cl A and Erie Indemnity Cl A are also among the group's highest-rated stocks.
