Suncor Energy had its Relative Strength (RS) Rating upgraded from 68 to 72 Thursday — a welcome improvement, but still short of the 80 or better score you look for.
When To Sell Stocks To Lock In Profits And Minimize Losses
IBD's proprietary RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 in the early stages of their moves. See if Suncor Energy can continue to show renewed price strength and hit that benchmark.
Suncor Energy is now considered extended and out of buy range after clearing a 40.22 buy point in a first-stage cup with handle. 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.
Suncor Energy reported negative growth for both the top and bottom lines last quarter.
The company holds the No. 8 rank among its peers in the Oil & Gas-Integrated industry group. Antero Midstream, EQT and Williams Cos 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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