CVR Energy saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, with an upgrade from 77 to 84.
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This unique rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks matches up against that of all other stocks.
History reveals that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 as they launch their biggest price moves.
CVR Energy is now considered extended and out of buy range after clearing a 22.20 buy point in a first-stage consolidation. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company reported 0% EPS growth last quarter. Revenue rose -12%.
CVR Energy earns the No. 12 rank among its peers in the Oil & Gas-Refining/Marketing industry group. UGI, Star Group and Targa Resources 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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