Cenovus Energy saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 69 to 73.
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This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
History shows that the best-performing stocks often have an RS Rating of at least 80 as they launch their biggest climbs. See if Cenovus Energy can continue to rebound 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 line.
Regarding fundamentals, Cenovus Energy has posted two quarters of increasing earnings growth. Sales growth has been a different story, coming in at -16% in the most recent report.
Cenovus Energy earns the No. 6 rank among its peers in the Oil & Gas-Integrated industry group. Antero Midstream, Williams Cos and EQT 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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