On Thursday, Bank OZK reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 78 the day before.
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IBD's unique RS Rating measures technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks typically have an 80 or higher RS Rating as they begin their biggest price moves.
Bank OZK is now considered extended and out of buy range after clearing a 47.52 buy point in a first-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 line.
Bank OZK reported -3% EPS growth in its most recent report. Revenue gains came in at 1%. The next quarterly numbers are expected on or around Jul. 17.
The company earns the No. 20 rank among its peers in the Banks-Southeast industry group. Popular Inc., Capital City Bank Group and Red River Bancshares 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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