The Relative Strength (RS) Rating for Devon Energy stock headed into a new percentile Friday, as it got a lift from 61 to 75.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary rating identifies price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
History shows that the top-performing stocks often have an 80 or better RS Rating as they begin their largest climbs. See if Devon Energy stock can continue to rebound and hit that benchmark.
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Is Devon Energy Stock A Buy?
Devon Energy stock is trying to complete a consolidation with a 78.92 buy point. See if it can clear the breakout price in heavy volume. Keep in mind that it's a later-stage consolidation, and those entail more risk. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The energy stock showed 102% earnings growth in the latest quarterly report, while sales growth came in at 57%. The company is expected to report its latest performance numbers on or around Feb. 14.
Devon Energy stock earns the No. 18 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. Denbury and EOG Resources are also among the group's highest-rated stocks.
