CNX Resources saw a positive improvement to its Relative Strength (RS) Rating on Wednesday, rising from 78 to 85.
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This unique rating measures technical performance by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
History shows that the best stocks typically have an RS Rating of above 80 in the early stages of their moves.
CNX Resources has moved more than 5% past a 26.57 entry in a first-stage flat base, meaning it's now out of 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 line.
Top and bottom line growth moved higher last quarter. Earnings were up 76%, compared to -14% in the prior report. Revenue increased from -86% to -79%.
The company earns the No. 12 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. Range Resources, Antero Resources and LandBridge 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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