On Monday, ICICI Bank ADR received a positive adjustment to its Relative Strength (RS) Rating, from 70 to 75.
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior 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 typically have an RS Rating of above 80 as they launch their biggest runs. See if ICICI Bank ADR can continue to rebound and hit that benchmark.
When To Sell Stocks To Lock In Profits And Minimize Losses
ICICI Bank ADR broke out earlier, but is now approximately 5% below the prior 31.60 entry from a cup with handle. If a stock you're tracking clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new pattern and breakout. Also keep in mind that the latest consolidation is a later-stage base, and such bases are more prone to failure.
While sales growth fell last quarter from 27% to 26%, the bottom line grew 16%, up from 8% in the prior report. Look for the next report on or around Jan. 25.
ICICI Bank ADR holds the No. 1 rank among its peers in the Banks-Foreign industry group. Banco Latinamer and Cdn Imperial Bk Of Comm are also among the group's highest-rated stocks.
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