In a welcome move, CNX Resources saw its Relative Strength Rating rise from 68 to 71 on Monday.
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This unique rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks compares to other publicly traded companies.
Over 100 years of market history reveals that the top-performing stocks typically have an RS Rating of at least 80 as they begin their largest price moves. See if CNX Resources can continue to rebound and hit that benchmark.
CNX Resources has risen more than 5% past a 26.57 entry in a first-stage flat base, meaning it's now out of a proper buy range. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 76%, compared to -14% in the prior report. Revenue increased from -86% to -79%. Look for the next report on or around Jul. 24.
CNX Resources earns the No. 7 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. California Resources, Venture Global and Antero 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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