When putting together your watch list, focus on stocks with an 80 or higher RS Rating. Valero Energy now meets that criteria, with a jump from 77 to 82 Wednesday.
Hone Your Stock-Picking Skills By Focusing On These Factors
This proprietary rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against that of all other stocks.
Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an 80 or higher RS Rating in the early stages of their moves.
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 establish and enter a buying range in heavy volume.
Although earnings and sales growth came in at -77% and -5%, respectively, in the latest report, that marked two straight quarters of acceleration for EPS and two for revenue. The company is expected to release its next quarterly numbers on or around Jul. 24.
Valero Energy holds the No. 9 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.
RELATED:
IBD Stock Rating Upgrades: Rising Relative Strength
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
