On Friday, Hess Midstream received an upgrade to its Relative Strength (RS) Rating, from 77 to 81.
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IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against that of all other stocks.
History shows that the best stocks often have an RS Rating of over 80 in the early stages of their moves.
Hess Midstream broke out earlier, but has fallen back below the prior 44.05 entry from a cup without handle. If a stock you're tracking clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and buy point. Also keep in mind that the most recent pattern is a later-stage base, and such bases are more prone to failure.
Hess Midstream saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 10% to 25%. Revenue rose from 7% to 13%.
Hess Midstream holds the No. 1 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. Navigator Holdings and MPLX are also among the group's highest-rated stocks.
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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