The Relative Strength (RS) Rating for ENI ADR entered a higher percentile Wednesday, as it got a lift from 68 to 75.
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IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
History shows that the stocks that go on to make the biggest gains often have an 80 or higher RS Rating as they begin their biggest runs. See if ENI ADR can continue to show renewed price strength and hit that benchmark.
ENI ADR is now considered extended and out of buy range after clearing a 29.18 buy point in a first-stage cup with handle. 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.
Although earnings and sales growth came in at -1% and -1%, respectively, in the latest report, that marked acceleration for both EPS and revenue. ENI ADR is expected to report its next quarterly numbers on or around Jul. 25.
The company earns the No. 5 rank among its peers in the Oil & Gas-Integrated industry group. EQT is the No. 1-ranked stock 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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