In a welcome move, Banco Macro ADR saw its Relative Strength Rating improve from 62 to 74 on Wednesday.
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IBD's proprietary RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
History reveals that the best-performing stocks typically have an 80 or better RS Rating as they launch their biggest climbs. See if Banco Macro ADR can continue to show renewed price strength and hit that benchmark.
Banco Macro ADR is now considered extended and out of buy range after clearing a 60.51 buy point in a second-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 -91% to -90%, but sales fell from -44% to -100%.
The company holds the No. 25 rank among its peers in the Banks-Foreign industry group. ICICI Bank ADR, Credicorp and Banco Latinamer 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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