On Tuesday, Suncor Energy stock reached an important technical milestone, with its Relative Strength (RS) Rating moving into the 80-plus percentile with an improvement to 84, up from 77 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This proprietary rating measures technical performance 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 reveals that the market's biggest winners typically have an RS Rating of above 80 as they launch their biggest price moves.
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Is Suncor Energy Stock A Buy?
After reaching a 52-week high of 42.72 in June, Suncor Energy stock has been consolidating and is not in a proper buying range. See if the integrated oil 7 gas stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The integrated oil & gas firm posted negative growth for both the top and bottom lines last quarter. Suncor Energy is expected to report its next quarterly numbers on or around Nov. 9.
Suncor Energy stock holds the No. 15 rank among its peers in the Oil & Gas-Integrated industry group. Williams Cos and TotalEnergies ADR are also among the group's highest-rated stocks.
