Eastgroup Properties ( EGP ) had its Relative Strength ( RS ) Rating upgraded from 70 to 74 Thursday -- a welcome improvement, but still shy of the 80 or higher score you prefer to see.
[ibd-display-video id=2368044 width=50 float=left autostart=true] This exclusive rating from Investor's Business Daily identifies price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
History shows that the market's biggest winners typically have an RS Rating of at least 80 as they begin their biggest climbs. See if Eastgroup Properties can continue to rebound and hit that benchmark.
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Eastgroup Properties broke out earlier, but is now trading about 3% below the prior 93.71 entry from a flat base . If a stock you're tracking clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new consolidation and breakout. Also understand that the most recent consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
Eastgroup Properties reported 4% earnings growth in the latest quarterly report, while sales growth came in at 9%.
Eastgroup Properties earns the No. 27 rank among its peers in the Finance-Property REITs industry group. CoreSite Realty ( COR ), Terreno Realty ( TRNO ) and Cubesmart ( CUBE ) are among the top 5 highly rated stocks within the group.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
