Coterra Energy had its Relative Strength (RS) Rating upgraded from 68 to 73 Thursday — a welcome improvement, but still shy of the 80 or higher score you look for.
IBD's proprietary rating tracks share price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the best-performing stocks tend to have an RS Rating north of 80 as they begin their largest climbs. See if Coterra Energy can continue to rebound and hit that benchmark.
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Coterra Energy broke out earlier, but is now about 5% below the prior 29.89 entry from a consolidation. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to form. Also keep in mind that the latest pattern is a later-stage base, and such bases are more prone to failure.
Coterra Energy reported -36% earnings growth in the latest quarterly report, while sales growth came in at 0%. Look for the next report on or around Feb. 24.
Coterra Energy holds the No. 15 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. PrimeEnergy Resources, Gulfport Energy and Crescent Energy are among the top 5 highly rated stocks within the group.
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