Northern Trust saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an upgrade from 87 to 91.
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IBD's proprietary RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the best-performing stocks typically have an RS Rating of over 80 at the beginning of a new price run.
Northern Trust is now considered extended and out of buy range after clearing a 110.85 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.
Northern Trust showed 13% EPS growth in the latest quarterly report. Revenue rose 18%. The company is expected to report its latest earnings and sales numbers on or around Jul. 23.
The company earns the No. 1 rank among its peers in the Banks-Super Regional industry group. Huntington Bancshares and Regions Financial are also among the group's highest-rated stocks.
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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