One important metric to look for in a stock is an 80 or higher Relative Strength Rating. CVR Energy stock cleared that benchmark Wednesday, with a jump from 70 to 80 Wednesday.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique rating 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 compares to all the other stocks in our database.
History reveals that the best-performing stocks often have an 80 or higher RS Rating in the early stages of their moves.
Looking For The Best Stocks To Buy And Watch? Start Here
Is CVR Energy Stock A Buy?
CVR Energy stock is working on a consolidation with a 35.54 buy point. See if the energy stock can clear the breakout price in heavy volume. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Although earnings and sales growth came in at -1% and -7%, respectively, in the latest report, that showed improvement for both EPS and revenue. The oil & gas company is expected to release its next quarterly numbers on or around Feb. 20.
CVR Energy stock earns the No. 14 rank among its peers in the Oil & Gas-Refining/Marketing industry group. Sunoco and Suburban Propane are also among the group's highest-rated stocks.
