When building your watch list, look for stocks with an 80 or higher RS Rating. Teekay Tankers now meets that criteria, with an increase from 79 to 83 Wednesday.
Hone Your Stock-Picking Skills By Focusing On These Factors
IBD's unique RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matches up against that of all other stocks.
Decades of market research shows that the best-performing stocks often have an RS Rating of over 80 as they launch their biggest runs.
Teekay Tankers is now considered extended and out of buy range after clearing a 47.99 buy point in a first-stage flat base. 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 line.
Although earnings and sales growth came in at -55% and -29%, respectively, in the latest report, that showed improvement for both EPS and revenue.
The company holds the No. 7 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.
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