California Resources had its Relative Strength (RS) Rating upgraded from 68 to 74 Friday — a welcome improvement, but still below the 80 or higher score you look for.
When To Sell Stocks To Lock In Profits And Minimize Losses
IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks compares to the rest of the market.
Over 100 years of market history shows that the market's biggest winners typically have an RS Rating of above 80 in the early stages of their moves. See if California Resources can continue to rebound and clear that threshold.
California Resources is building a cup without handle with a 60.41 buy point. See if it can clear the breakout price in volume at least 40% higher than normal.
California Resources saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -2% to 43%. Revenue rose from 21% to 101%. Look for the next report on or around Aug. 5.
The company earns the No. 1 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. CNX Resources and Comstock Resources 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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