In a welcome move, APA stock saw its Relative Strength Rating improve from 65 to 71 on Wednesday, but still shy of 80 or higher rating you're looking for.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks compares to other publicly traded companies.
History reveals that the stocks that go on to make the biggest gains tend to have an 80 or better RS Rating as they begin their biggest runs. See if APA stock can continue to show renewed price strength and hit that benchmark.
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Is APA Stock A Buy?
APA stock is building a cup with handle with a 46.15 entry. See if the stock can break out in volume at least 40% higher than normal. It's a later-stage pattern, and investors should be aware that those are less likely to lead to significant gains.
The oil and natural gas producer posted negative growth for both sales and earnings last quarter. APA is expected to report its next quarterly numbers on or around Nov. 1.
APA stock earns the No. 7 rank among its peers in the Oil & Gas-International Exploration & Production industry group. Ovintiv and Murphy Oil are also among the group's highest-rated stocks.
