One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Affiliated Managers now clears that threshold, with a jump from 80 to 83 Friday.
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IBD's unique RS Rating tracks 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 market's biggest winners tend to have an RS Rating of over 80 as they begin their biggest climbs.
Affiliated Managers is now considered extended and out of buy range after clearing a 199.52 buy point in a first-stage consolidation. 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.
While the company's top line growth fell last quarter from 4% to -1%, EPS grew -3%, up from -5% in the previous report. The company is expected to report its latest performance numbers on or around Aug. 4.
Affiliated Managers holds the No. 17 rank among its peers in the Finance-Investment Management industry group. Carlyle Group, WisdomTree and Acadian Asset Management are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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