Stocks Flashing Renewed Technical Strength: Imperial Oil
One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Imperial Oil just hit that mark, with a jump from 74 to 84 Tuesday.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily tracks price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks typically have an RS Rating north of 80 as they begin their biggest climbs.
Imperial Oil is working on a consolidation with a 35.30 entry. See if the stock can clear the breakout price in volume at least 40% higher than normal.
Top and bottom line growth moved higher last quarter. Earnings were up 164%, compared to 0% in the prior report. Revenue increased from 5% to 117%.
The company earns the No. 8 rank among its peers in the Oil & Gas-Integrated industry group. AnteroMidstreamCorp and Equinor ASA Adr are also among the group's highest-rated stocks.