When putting together your watch list, look for stocks with an 80 or higher RS Rating . Cadence Bancorp ( CADE ) is one stock that just reached the mark, now earning a score of 81.
[ibd-display-video id=2102289 width=50 float=left autostart=true] This proprietary rating identifies market leadership by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
Over 100 years of market history shows that the market's biggest winners typically have an RS Rating of over 80 as they launch their biggest runs.
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Cadence Bancorp is now considered extended and out of buy range after clearing a 23.23 buy point in a first-stage double bottom . 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.
Taking a look at revenue and profit performance, the company has posted rising EPS growth in each of the last two reports. Sales gains have also moved higher over the same time frame.
Cadence Bancorp holds the No. 1 rank among its peers in the Banks-West/Southwest industry group. Cathay General Bancorp ( CATY ) and Guaranty Bancorp ( GBNK ) are also among the group's highest-rated stocks.
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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.
