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In a welcome move, Valley National Bancorp (VLY) saw its Relative Strength Rating rise from 70 to 76 on Monday. 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 as they launch their biggest climbs. See if Valley National Bancorp can continue to show renewed price strength and clear that threshold. Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to establish and enter a buy zone in heavy volume. Valley National Bancorp showed 56% EPS growth in its most recent report, while sales growth came in at 8%. Valley National Bancorp earns the No. 14 rank among its peers in the Banks-Northeast industry group. Bankwell Financial Group (BWFG), The Bancorp (TBBK) and PB Bankshares (PBBK) 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.
