In a welcome move, ICICI Bank ADR saw its Relative Strength Rating improve from 70 to 73 on Friday.
How To Invest In Stocks In Both Bull And Bear Markets
This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks compares to other publicly traded companies.
Decades of market research reveals that the best stocks tend to have an RS Rating north of 80 as they launch their biggest runs. See if ICICI Bank ADR can continue to show renewed price strength and clear that threshold.
ICICI Bank ADR has moved more than 5% past a 31.99 entry in a first-stage cup with handle, meaning it's now out of a proper buy range. Look for the stock to create a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company posted 13% earnings growth in its most recent report, while sales growth came in at 16%. Keep an eye out for the company's next round of numbers on or around Jul. 19.
ICICI Bank ADR earns the No. 2 rank among its peers in the Banks-Foreign industry group. ICICI Bank ADR is the top-ranked stock 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.
RELATED:
Which Stocks Are Showing Improved Technical Action?
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!
