California Resources saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, rising from 63 to 77.
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This proprietary rating identifies market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the best-performing stocks typically have an RS Rating north of 80 as they launch their biggest climbs. See if California Resources can continue to rebound and clear that threshold.
California Resources has moved more than 5% past a 53.11 entry in a first-stage cup with handle, meaning it's now out of a proper buy zone. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Earnings growth rose last quarter from 43% to 83%, but revenue fell from 101% to 90%.
The company earns the No. 1 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. SandRidge Energy and Range Resources are also among the group's highest-rated stocks.
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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