BlackRock saw a welcome improvement to its Relative Strength (RS) Rating on Friday, rising from 79 to 82.
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This proprietary rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against other publicly traded companies.
Decades of market research reveals that the best stocks tend to have an RS Rating north of 80 in the early stages of their moves.
BlackRock is now considered extended and out of buy range after clearing a 999.00 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 line.
Top and bottom line growth moved higher last quarter. Earnings were up 16%, compared to 15% in the prior report. Revenue increased from 12% to 13%.
The company earns the No. 8 rank among its peers in the Finance-Investment Management industry group. Carlyle Group, WisdomTree and Acadian Asset Management 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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