On Wednesday, Renasant earned an upgrade to its Relative Strength (RS) Rating, from 66 to 74.
Can You Really Time The Stock Market?
IBD's proprietary RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research shows that the best stocks typically have an 80 or higher RS Rating in the early stages of their moves. See if Renasant can continue to show renewed price strength and hit that benchmark.
Renasant is still within a buy range after breaking past a 36.10 buy point in a cup with handle. The proper buying range is up to 5% above the initial entry. Once a stock moves above that range, it's best to wait for it to set up another buying opportunity..
While revenue growth fell last quarter from 14% to 4%, earnings-per-share grew 2%, up from -4% in the prior report. The company is expected to report its latest results on or around Jul. 29.
The company earns the No. 40 rank among its peers in the Banks-Southeast industry group. Popular Inc., Capital City Bank Group and Red River Bancshares 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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