One important metric to look for in a stock is an 80 or higher Relative Strength Rating. HDFC Bank ADR now clears that threshold, with a jump from 80 to 83 Thursday.
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IBD's unique rating measures price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners tend to have an RS Rating of at least 80 as they begin their biggest price moves.
HDFC Bank ADR is now considered extended and out of buy range after clearing a 67.12 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.
Earnings growth rose in the company's most recent report from -1% to 4%, but sales fell from -5% to -6%. The company is expected to report its latest results on or around Jul. 19.
The company earns the No. 14 rank among its peers in the Banks-Foreign industry group. ICICI Bank ADR, Nu Holdings Cl A and Credicorp 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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