One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Calumet cleared that benchmark Monday, with a jump from 80 to 83 Monday.
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IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
History reveals that the top-performing stocks often have an RS Rating of over 80 as they launch their biggest runs.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to offer and clear a proper buy point.
Calumet showed 0% EPS growth last quarter, while sales growth came in at -1%. The company is expected to report its latest results on or around Aug. 8.
The company earns the No. 16 rank among its peers in the Oil & Gas-Refining/Marketing industry group. UGI, Targa Resources and Global Partners 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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