On Tuesday, Duke Energy earned an upgrade to its Relative Strength (RS) Rating, from 66 to 73.
Can You Really Time The Stock Market?
This proprietary rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks compares to other publicly traded companies.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 in the early stages of their moves. See if Duke Energy can continue to rebound and hit that benchmark.
Duke Energy broke out earlier, but has fallen back below the prior 125.27 entry from a flat base. If a stock you're tracking clears a buy point then declines 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and buy point. Also keep in mind that the latest pattern is a later-stage base, and such bases are more prone to failure.
Duke Energy showed 6% EPS growth in the latest quarterly report. Sales increased 5%.
The company earns the No. 9 rank among its peers in the Utility-Diversified industry group. NiSource, WEC Energy Group and Ameren 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:
Stocks With Rising Relative Strength Ratings
