State Street Stock Flashing Renewed Technical Strength With Rising RS

On Tuesday, State Street (STT) reached an important technical milestone, with its Relative Strength (RS) Rating rising into the 80-plus percentile with an improvement to 82, up from 78 the day before.

When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

This unique rating tracks technical performance by showing how a stock’s price action over the last 52 weeks compares to that of other stocks on the major indexes.

History reveals that the market’s biggest winners tend to have an RS Rating north of 80 as they launch their biggest price moves.

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State Street stock  broke out earlier, but had fallen back below the prior 94.74 entry from a cup without handle. It has returned to the buy zone, giving another entry opportunity.

Also keep in mind that the latest consolidation is a somewhat later-stage base, which could make it riskier to establish a new position or add shares to an existing one.

In terms of fundamental health, State Street stock has posted rising EPS growth over the last three quarters. Sales gains have also risen over the same time frame.

State Street stock earns the No. 46 rank among its peers in the Finance-Investment Management industry group. Cohen & Steers (CNS) and Focus Financial (FOCS) are also among the group’s highest-rated stocks.


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