On Thursday, South State cleared a key technical benchmark, with its Relative Strength (RS) Rating jumping into the 80-plus percentile with an upgrade to 87, a rise from 80 the day before.
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks often have an 80 or better RS Rating in the early stages of their moves.
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South State is now considered extended and out of buy range after clearing a 97.94 buy point in a first-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
South State saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 10% to 17%. Revenue rose from -3% to 0%.
South State earns the No. 15 rank among its peers in the Banks-Southeast industry group. MetroCity Bankshares, USCB Financial Holdings and Village Bank & Trust are among the top 5 highly rated stocks within the group.
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