Bank of Nova Scotia Sees IBD RS Rating Climb to 72

IBD RS Rating: A Measure of a Stock's Price Performance

The IBD RS Rating, also known as the Relative Strength Rating, measures a stock's price performance over the past 12 months compared to all other stocks in the IBD database. It is a key component of IBD's CAN SLIM investing system, which helps investors identify stocks with strong growth potential.

How the IBD RS Rating is Calculated

To calculate the IBD RS Rating, the IBD team analyzes a stock's price performance over a series of time frames. The stock's daily closing prices are compared to its average price over the past 12 months, and the results are plotted on a graph. The slope of the graph indicates the stock's momentum, and the higher the slope, the better the RS Rating.

RS Rating of 72: What It Means

A stock with an RS Rating of 72 means that it has outperformed 72% of all other stocks in the IBD database over the past 12 months. This indicates that the stock has strong momentum and is likely to continue to perform well in the future.

Other Factors to Consider When Evaluating a Stock

While the IBD RS Rating is a valuable metric, it is important to consider other factors when evaluating a stock. These factors include the company's fundamentals, such as its earnings, revenue, and debt, as well as the technical analysis of the stock's price chart.