Sumitomo Mitsui Finl ADR saw a welcome improvement to its Relative Strength (RS) Rating on Friday, rising from 70 to 74.
When To Sell Stocks To Lock In Profits And Minimize Losses
IBD's proprietary RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matched up against all other stocks.
Decades of market research reveals that the best-performing stocks often have an RS Rating north of 80 as they launch their biggest price moves. See if Sumitomo Mitsui Finl ADR can continue to rebound and clear that threshold.
Sumitomo Mitsui Finl ADR is now considered extended and out of buy range after clearing a 15.50 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 moving average.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -94% to 17%. Revenue rose from -4% to 8%.
The company holds the No. 21 rank among its peers in the Banks-Money Centers industry group. Barclays ADR, Royal Bank of Canada and Banco Bilbao Vizcaya ADR 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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