When building your watch list, focus on stocks with an 80 or higher RS Rating. Bank of America just cleared that benchmark with an upgrade from 78 to 81.
Risk Management In The Stock Market: How Much Money To Invest Now
This unique rating measures market leadership 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 other publicly traded companies.
History reveals that the best stocks often have an RS Rating north of 80 as they launch their biggest climbs.
Bank of America is within a buy zone after moving past a 47.98 entry in a consolidation. The proper buying range is up to 5% above the initial entry. Once a stock hits that benchmark, it's best to hold off investing and wait for it to set up another buying opportunity.
Bank of America posted 18% EPS growth last quarter. Sales rose 6%. Keep an eye out for the company's next round of numbers on or around Jul. 16.
The company earns the No. 9 rank among its peers in the Banks-Money Centers industry group. Barclays ADR, JPMorgan Chase and NatWest Group 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.
RELATED:
Banks And Financial Stocks: Latest News And Analysis
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!
