One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Customers Bancorp just hit that mark, with a jump from 77 to 82 Wednesday.
Hone Your Stock-Picking Skills By Focusing On These Factors
IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks matches up against other publicly traded companies.
Over 100 years of market history shows that the market's biggest winners often have an 80 or higher RS Rating in the early stages of their moves.
Customers Bancorp is working on a with a 59.94 entry. See if it can clear the breakout price in volume at least 40% higher than normal.
In terms of fundamentals, Customers Bancorp has posted two quarters of accelerating earnings growth. Revenue growth has been a different story, coming in at -21% last quarter. Customers Bancorp is expected to report its next quarterly numbers on or around Jul. 23.
Customers Bancorp holds the No. 33 rank among its peers in the Banks-Northeast industry group. Capital Bancorp, Ponce Financial Group and Unity Bancorp 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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