On Tuesday, ICICI Bank ADR earned a positive adjustment to its Relative Strength (RS) Rating, from 68 to 72.
IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks compares to the rest of the market.
Decades of market research reveals that the best stocks typically have an RS Rating north of 80 in the early stages of their moves. See if ICICI Bank ADR can continue to rebound and hit that benchmark.
How To Invest In Stocks In Both Bull And Bear Markets
While now is not an ideal time to jump in, see if the stock goes on to establish and enter a buy zone in heavy trade.
While the company's top line growth fell last quarter from 27% to 26%, earnings-per-share grew 16%, up from 8% in the prior report. The company is expected to report its latest numbers on or around Jan. 25.
The company holds the No. 1 rank among its peers in the Banks-Foreign industry group. Banco Latinamer and Banco Macro ADR are also among the group's highest-rated stocks.
RELATED:
Stocks With Rising Relative Strength Ratings
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!
