When considering what names to put on your watch list, look for stocks with an 80 or higher RS Rating. HDFC Bank ADR just cleared that benchmark with an upgrade from 79 to 82.
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IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners tend to have an RS Rating of over 80 in the early stages of their moves.
HDFC Bank ADR is now considered extended and out of buy range after clearing a 67.12 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 moving average.
Earnings growth decreased last quarter from 4% to -4%. But revenue gains moved higher, from -6% to 11%.
The company earns the No. 15 rank among its peers in the Banks-Foreign industry group. Banco Latinamer, Credicorp and ING Groep 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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