When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Cactus stock, which saw a welcome improvement to its Relative Strength (RS) Rating on Monday, rising from 88 to 91.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This proprietary rating identifies technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 at the beginning of a new price run.
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Is Cactus Stock A Buy?
While Cactus stock is not near a proper entry right now, see if the energy stock goes on to form and break out from a proper base. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 91%, compared to 64% in the prior report. Revenue increased from 57% to 80%.
Cactus stock holds the No. 1 rank among its peers in the Oil & Gas-Machinery/Equipment industry group. Baker Hughes and Geospace Technologies are also among the group's highest-rated stocks.
