Stocks Showing Rising Market Leadership: Chesapeake Energy Earns 83 RS Rating
The Relative Strength (RS) Rating for Chesapeake Energy entered a new percentile Thursday, with a rise from 80 to 83.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique rating tracks share price movement with a 1 (worst) to 99 (best) score. The rating 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 stocks that go on to make the biggest gains typically have an 80 or better RS Rating as they launch their biggest runs.
Chesapeake Energy is now considered extended and out of buy range after clearing a 57.09 buy point in a first-stage consolidation. 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.
While earnings-per-share growth fell in the company's most recent performance report from 0% to -93%, sales rose 37%, up from -55% in the previous report.
Chesapeake Energy earns the No. 36 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. Cimarex Energy and Magnolia O&G Corp are also among the group's highest-rated stocks.