Cenovus Energy saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, with an upgrade from 62 to 71.
When To Sell Stocks To Lock In Profits And Minimize Losses
IBD's unique rating identifies price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the best stocks typically have an 80 or better RS Rating in the early stages of their moves. See if Cenovus Energy can continue to show renewed price strength and clear that threshold.
Cenovus Energy has risen more than 5% past a 15.07 entry in a first-stage flat base, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Regarding fundamentals, Cenovus Energy has posted two quarters of accelerating earnings growth. Revenue growth has been a different story, coming in at -16% in the latest report.
Cenovus Energy holds the No. 7 rank among its peers in the Oil & Gas-Integrated industry group. EQT, Antero Midstream and Imperial Oil are among the top 5 highly rated stocks within the group.
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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