On Monday, Teekay Tankers received a positive adjustment to its Relative Strength (RS) Rating, from 67 to 75.
Can You Really Time The Stock Market?
IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research reveals that the market's biggest winners tend to have an RS Rating of over 80 in the early stages of their moves. See if Teekay Tankers can continue to rebound and hit that benchmark.
Teekay Tankers has risen more than 5% past a 47.99 entry in a first-stage flat base, meaning it's now out of a proper buy range. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Although earnings and sales growth came in at -55% and -29%, respectively, in the latest report, that marked acceleration for both the top and bottom lines. Teekay Tankers is expected to release its next quarterly numbers on or around Oct. 30.
The company holds the No. 10 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. DT Midstream, Enbridge and TC Energy 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
