When building your watch list, look for stocks with an 80 or higher RS Rating. SLM Corp just cleared that benchmark with an upgrade from 74 to 84.
This proprietary rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against that of all other stocks.
History shows that the top-performing stocks tend to have an RS Rating north of 80 as they begin their biggest price moves.
Risk Management In The Stock Market: How Much Money To Invest Now
SLM Corp is still inside a buy range after clearing a 23.72 buy point in a cup with handle. Once a stock moves 5% or higher beyond the original entry, it's considered extended and out of buy range.
SLM Corp reported 0% EPS growth in the latest quarterly report, while sales growth came in at -6%.
SLM Corp earns the No. 12 rank among its peers in the Finance-Consumer Loans industry group. Enova International, SoFi Technologies and Nelnet A are among the top 5 highly rated stocks within the group.
RELATED:
IBD Stock Rating Upgrades: Rising Relative Strength
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!
