Banco Macro ADR saw a positive improvement to its Relative Strength (RS) Rating on Monday, with an increase from 72 to 88.
IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
Decades of market research shows that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 as they launch their biggest runs.
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Banco Macro ADR is now considered extended and out of buy range after clearing a 60.51 buy point in a second-stage cup with 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 moving average.
While earnings-per-share growth decreased in the company's most recently reported quarter from 43% to -91%, sales grew -44%, up from -72% in the previous report.
The company earns the No. 21 rank among its peers in the Banks-Foreign industry group. ICICI Bank ADR, Banco Latinamer and Banco Santander-Chile ADR 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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