On Monday, Synovus Financial earned a positive adjustment to its Relative Strength (RS) Rating, from 69 to 76.
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This proprietary rating measures technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 in the early stages of their moves. See if Synovus Financial can continue to rebound and hit that benchmark.
Synovus Financial is now considered extended and out of buy range after clearing a 46.60 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 56% to 65%, but sales fell from 19% to 6%.
Synovus Financial holds the No. 15 rank among its peers in the Banks-Southeast industry group. Southern States Bcshs, Popular Inc. and Stock Yards Bancorp 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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