On Tuesday, Valero Energy reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 79 the day before.
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IBD's proprietary RS 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.
Decades of market research reveals that the top-performing stocks often have an RS Rating of above 80 as they launch their biggest runs.
Valero Energy is now considered extended and out of buy range after clearing a 155.12 buy point in a first-stage cup without handle. 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 moving average.
Regarding top and bottom line numbers, Valero Energy has posted rising EPS growth over the last three quarters. Revenue growth has not followed the same trajectory, coming in at -13% in the most recent quarterly report. The company is expected to report its next quarterly numbers on or around Oct. 23.
Valero Energy holds the No. 11 rank among its peers in the Oil & Gas-Refining/Marketing industry group. Par Pacific Holdings, HF Sinclair and Targa Resources 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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