On Wednesday, Nabors Industries cleared a noteworthy performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 81, up from 61 the day before.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
History shows that the market's biggest winners tend to have an RS Rating north of 80 in the early stages of their moves.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to form a chart pattern and break out.
Earnings growth decreased in the most recent report from 0% to -84%. But sales moved higher, from -35% to -9%.
Nabors Industries earns the No. 8 rank among its peers in the Oil & Gas-Drilling industry group. Valaris and Precision Drilling are also among the group's highest-rated stocks.
