On Tuesday, Corebridge Financial received an upgrade to its Relative Strength (RS) Rating, from 80 to 83.
IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains often have an 80 or better RS Rating as they begin their biggest price moves.
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Corebridge Financial broke out earlier, but is now trading about 5% below the prior 33.82 entry from a cup with handle. If a stock you're tracking clears a buy point then declines 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new base and buy point. Also keep in mind that the latest consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
Earnings growth dropped in the most recent quarter from 31% to 18%. But revenue moved higher, from -52% to 97%.
The company earns the No. 2 rank among its peers in the Insurance-Life industry group. Lincoln National is the No. 1-ranked stock within the group.
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