Ameris Bancorp Trying To Close In On Key Technical Benchmark
Ameris Bancorp saw a welcome improvement to its Relative Strength (RS) Rating on Friday, with an increase from 70 to 74.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
This unique rating measures technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
History shows that the market's biggest winners tend to have an RS Rating north of 80 as they launch their largest runs. See if Ameris Bancorp can continue to rebound and hit that benchmark.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock manages to form a base and break out.
Ameris Bancorp showed 105% earnings growth in its most recent report, while sales growth came in at -14%.
Ameris Bancorp holds the No. 26 rank among its peers in the Banks-Southeast industry group. Blue Ridge Bankshares and First Bancorp are also among the group's highest-rated stocks.