On Friday, DNOW stock reached an important technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 88, up from 75 the day before. The energy and industrial distributor company reported strong Q4 results on Thursday, resulting in shares soaring 20%.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the best stocks often have an RS Rating north of 80 as they begin their biggest runs.
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Is DNOW Stock A Buy?
DNOW stock has climbed more than 5% past a 15.42 entry in a first-stage cup with handle, meaning it's extended and now out of a proper buy zone. Look for the energy stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The energy and industrial distributor company showed 14% EPS growth last quarter. Revenue gains came in at 3%.
DNOW stock earns the No. 7 rank among its peers in the Oil & Gas-Machinery/Equipment industry group. Archrock, Natural Gas Services and Chart Industries are among the top 5 highly rated stocks within the group.
