On Tuesday, Ameriprise Financial cleared a noteworthy technical benchmark, with its Relative Strength (RS) Rating climbing into the 80-plus percentile with an improvement to 80, an increase from 69 the day before.
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This unique rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks matches up against that of all other stocks.
Over 100 years of market history shows that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 as they begin their biggest runs.
Ameriprise Financial is working on a consolidation with a 582.05 entry. See if the stock can break out in volume at least 40% higher than normal.
Ameriprise Financial reported 13% earnings growth in the latest quarterly report. Revenue gains came in at 5%.
The company holds the No. 10 rank among its peers in the Finance-Investment Banking/Brokers industry group. Futu Holdings ADR, Houlihan Lokey Cl A and LPL Financial Holdings 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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