TechnipFMC had its Relative Strength (RS) Rating upgraded from 80 to 84 Thursday.
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This proprietary rating tracks technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history shows that the best stocks tend to have an RS Rating of at least 80 in the early stages of their moves.
TechnipFMC has climbed more than 5% past a 32.90 entry in a first-stage double bottom, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
TechnipFMC reported 50% earnings growth in the latest quarterly report. Sales gains came in at 9%. Keep an eye out for the company's next round of numbers on or around Jul. 24.
The company earns the No. 2 rank among its peers in the Oil & Gas-Machinery/Equipment industry group. Chart Industries is the top-ranked stock 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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