One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Scorpio Tankers just hit that mark, with a jump from 80 to 83 Monday.
Hone Your Stock-Picking Skills By Focusing On These Factors
IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks stacks 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 price moves.
While it's not currently an ideal time to buy shares, see if the stock manages to form a base and break out.
Although earnings and sales growth came in at -61% and -40%, respectively, in the latest report, that means earnings have have shown improvement for two straight reports and sales have increased for one.
The company earns the No. 12 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. DT Midstream, Enbridge and TC Energy 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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