In a welcome move, Cenovus Energy stock saw its Relative Strength Rating improve from 67 to 73 on Wednesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
History shows that the best stocks often have an 80 or higher RS Rating in the early stages of their moves. See if Cenovus Energy stock can continue to show renewed price strength and hit that benchmark.
Looking For Winning Stocks? Try This Simple Routine
Is Cenovus Energy Stock A Buy?
Since hitting a 52-week high of 24.91, Cenovus Energy stock has been trading in a long consolidation and not in a proper buy range. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The integrated oil & gas company posted 0% EPS growth last quarter. Sales rose 2%. The company is expected to report its latest performance numbers on or around Apr. 26.
Cenovus Energy stock holds the No. 14 rank among its peers in the Oil & Gas-Integrated industry group. ExxonMobil and YPF ADR are also among the group's highest-rated stocks.
