On Wednesday, California Resources received an upgrade to its Relative Strength (RS) Rating, from 67 to 72.
This exclusive rating from Investor's Business Daily tracks share price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks stacks 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 80 or higher RS Rating as they begin their largest runs. See if California Resources can continue to rebound and clear that threshold.
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California Resources is working on a consolidation with a 58.44 buy point. See if the stock can break out in volume at least 40% higher than normal.
In terms of fundamental health, California Resources has posted two quarters of increasing earnings growth. Revenue growth has also risen over the same time frame.
The company earns the No. 10 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. PrimeEnergy Resources, Viper Energy and CNX Resources are among the top 5 highly rated stocks within the group.
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