The Relative Strength (RS) Rating for California Resources jumped into a new percentile Wednesday, as it got a lift from 66 to 74.
This unique rating identifies market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the best-performing stocks often have an RS Rating north of 80 in the early stages of their moves. See if California Resources can continue to show renewed price strength and hit that benchmark.
When To Sell Stocks To Lock In Profits And Minimize Losses
California Resources broke out earlier, but has fallen back below the prior 58.44 entry from a consolidation. If a stock you're tracking climbs above a buy point then retreats 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new pattern and breakout. Also keep in mind that the latest consolidation is a later-stage base, and such bases are more prone to failure.
In terms of top and bottom line numbers, California Resources has posted two quarters of rising earnings growth. Top line growth has also increased over the same time frame.
California Resources holds the No. 4 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. PrimeEnergy Resources is the No. 1-ranked stock within the group.
RELATED:
Stocks With Rising Relative Strength Ratings
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
