One bright spot in this stock market correction is financials, especially banks and money centers. One such company is Zions Bancorp. It's trading about 2% below a 68.35 buy point from a second-stage flat base.
The stock has 95 Relative Strength Rating. Watch to see if the stock breaks above its entry point on strong volume, preferably when the overall market rebounds from the current corrections. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates 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 typically have an RS Rating north of 80 as they begin their biggest price moves.
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Zions Tops Q4 Estimates
Zions Bancorp posted fourth quarter 2021 net earnings per share of $1.34, down 19.3% from the year-ago quarter's numbers, but beating consensus estimates of $1.33 per share. Sales growth came in at 4% at $753 million.
The regional bank has a 94 Composite Rating and holds the No. 20 rank among its peers in the Banks-West/Southwest industry group. Pcb Bancorp, Western Alliance Bancorp and Finwise Bancorp are among the top 5 highly rated stocks within the group. For more industry news, check out " Banks And Financial Stocks News And Analysis."
