On Monday, Allstate received a positive adjustment to its Relative Strength (RS) Rating, from 80 to 83.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The score 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 shows that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating as they begin their biggest climbs.
Looking For The Best Stocks To Buy And Watch? Start Here
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.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 383%, compared to 0% in the prior report. Revenue increased from 12% to 15%.
Allstate earns the No. 1 rank among its peers in the Insurance-Property/Casualty/Title industry group. AXIS Capital Holdings and Intl General Insurance are also among the group's highest-rated stocks.
RELATED:
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!
