Icahn Enterprises Stock Flashes Improved Relative Price Strength
In a welcome move, Icahn Enterprises saw its Relative Strength Rating rise from 68 to 71 on Thursday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor's Business Daily identifies price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the top-performing stocks typically have an 80 or higher RS Rating as they launch their largest price moves. See if Icahn Enterprises can continue to rebound and hit that benchmark.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to establish and enter a buying range in heavy trade. And after the market resumes an upward trend.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 61%, compared to 0% in the prior report. Revenue increased from -16% to 21%.
Icahn Enterprises holds the No. 11 rank among its peers in the Diversified Operations industry group. Otter Tail and Chemed are also among the group's highest-rated stocks.