On Monday, Archrock stock reached a noteworthy technical benchmark, with its Relative Strength (RS) Rating rising into the 80-plus percentile with an improvement to 84, an increase from 79 the day before.
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This proprietary rating measures market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
History shows that the stocks that go on to make the biggest gains tend to have an RS Rating of over 80 as they launch their biggest climbs.
Is Archrock Stock A Buy?
Archrock stock is building a double bottom with a 27.70 buy point. See if the energy stock can break out in volume at least 40% higher than normal. Given current stock market uncertainties, IBD recommends a cautious 20-40% market exposure. Be judicious with stock purchases.
Top and bottom line growth moved higher last quarter. Earnings were up 67%, compared to 40% in the prior report. Revenue increased from 15% to 26%. Keep an eye out for the company's next round of numbers on or around May 6.
Archrock stock earns the No. 1 rank among its peers in the Oil & Gas-Machinery/Equipment industry group. TechnipFMC and DNOW are also among the group's highest-rated stocks.
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