After 2,845% Run, S&P Global Tries To Buck Market And Break Out – Investor's Business Daily

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Since hitting a market bottom in March 2009, Wall Street fixture S&P Global (SPGI) has run up as much as 2,845%. Now the provider of credit ratings, benchmarks and analytics in the global capital and commodity markets is trying to buck pressure in the stock market indexes and break out.


Tracing its roots back to 1860, S&P Global offers insights on critical economic, market, and business factors. Divisions include S&P Global Ratings, S&P Global Market Intelligence, S&P Dow Jones Indices, and S&P Global Platts.

The monthly chart shows S&P Global’s long ascent since a powerful bull market began in 2009 after the financial and housing meltdown in 2008. That performance has earned the New York-based company a spot on the IBD Long-Term Leaders watchlist.

The financial industry powerhouse has an impressive three-year EPS stability factor of 3. Unlike the Composite Rating, where the higher the number the better, for the earnings stability factor, the lower the number, the more stable the earnings.

With a 95 Composite Rating, S&P Global earns a solid overall rating in Stock Checkup. SPGI stock has also secured a spot on the IBD Breakout Stocks Index.

See Who Joins S&P Global On The IBD Breakout Stocks Index

S&P Global Looks To Retake Buy Point

Earlier this month, S&P Global rose above a 476.27 buy point in a flat base. Volume was rising, but just barely above average. The stock soon retreated below that entry as the stock market indexes came under pressure.

The relative strength line remains below its 52-week high buy but it has been trending generally higher since mid-January.

SPGI stock reclaimed its 50-day moving average on Monday. The stock lost around 1.5% for the day, but it actually marked a day of support. In addition to retaking its 50-day line, note how S&P Global closed near the top of its range for the day. Plus, volume came in strong in the final hour of trade Monday in a sign of resilience and the beginning of a potential rebound.

On Tuesday, S&P Global successfully tested resistance at its shorter-term 21-day line, gaining over 2% for the day in light volume. The stock is edging higher early Wednesday, putting it just 1% shy of retaking its initial buy point.

See if SPGI stock can strengthen that resilience as the S&P 500 retakes and stays above its 50-day moving average.

IBD Breakout Opportunities ETF

The IBD Breakout Opportunities ETF (BOUT) from Innovator Capital Management tracks the IBD Breakout Stocks Index. As with other index ETFs, this fund allows you to essentially invest in the entire index in addition to or rather than buying the individual stocks. Learn more here about the ETF and Innovator funds.

Follow Matthew Galgani on Twitter at @IBD_MGalgani.


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