In a welcome move, International Seaways saw its Relative Strength Rating improve from 69 to 72 on Wednesday.
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IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks compares to the rest of the market.
Over 100 years of market history reveals that the best stocks tend to have an RS Rating of over 80 as they launch their biggest climbs. See if International Seaways can continue to rebound and hit that benchmark.
International Seaways is now considered extended and out of buy range after clearing a 41.17 buy point in a first-stage flat base. 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 line.
Although earnings and sales growth came in at -57% and -24%, respectively, in the latest report, that marked acceleration for both EPS and revenue.
The company earns the No. 22 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. Hess Midstream, Enbridge and DT Midstream 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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IBD Stock Rating Upgrades: Rising Relative Strength
