In a welcome move, Manulife Financial saw its Relative Strength Rating improve from 67 to 71 on Friday.
When To Sell Stocks To Lock In Profits And Minimize Losses
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the best-performing stocks typically have an RS Rating of over 80 as they begin their largest runs. See if Manulife Financial can continue to rebound and hit that benchmark.
Manulife Financial broke out earlier, but has fallen back below the prior 32.43 entry from a double bottom. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new base to take shape. Also understand that the most recent consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
Earnings growth slowed in the most recent quarter from 12% to 9%. But revenue moved higher, from -13% to 6%.
The company holds the No. 10 rank among its peers in the Insurance-Diversified industry group. Palomar Holdings, Yuanbao ADR and Bowhead Specialty 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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