California Resources had its Relative Strength (RS) Rating upgraded from 70 to 78 Tuesday — a welcome improvement, but still shy of the 80 or better score you prefer to see.
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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.
Over 100 years of market history reveals that the top-performing stocks typically have an RS Rating of above 80 in the early stages of their moves. See if California Resources can continue to rebound and hit that benchmark.
California Resources is working on a cup with handle with a 53.11 entry. See if it can clear the breakout price in volume at least 40% above average.
Top and bottom line growth moved higher last quarter. Earnings were up 43%, compared to -2% in the prior report. Revenue increased from 21% to 101%. Look for the next report on or around Aug. 5.
The company holds the No. 1 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. Range Resources and Venture Global are also among the group's highest-rated stocks.
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.
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