On Friday, Tidewater hit a noteworthy technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 78 the day before.
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IBD's proprietary rating measures price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains typically have an RS Rating of above 80 as they begin their biggest price moves.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock manages to establish and enter a buying range in heavy volume.
Earnings growth rose last quarter from -7% to 55%, but sales fell from 4% to 1%.
Tidewater earns the No. 10 rank among its peers in the Oil & Gas-Field Services industry group. NPK International, NCS Multistage and Flotek Industries 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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