On Thursday, Allstate got a positive adjustment to its Relative Strength (RS) Rating, from 78 to 81.
This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks holds 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 typically have an RS Rating of at least 80 in the early stages of their moves.
Risk Management In The Stock Market: How Much Money To Invest Now
Allstate is now considered extended and out of buy range after clearing a 177.37 buy point in a second-stage cup without 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 line.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 0% to 383%. Revenue rose from 12% to 15%.
The company earns the No. 6 rank among its peers in the Insurance-Property/Casualty/Title industry group. Mercury General, HCI Group and Goosehead Insurance Cl A are among the top 5 highly rated stocks within the group.
RELATED:
Stocks With Rising Relative Strength Ratings
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!
