On Wednesday, Eagle Bulk Shipping received an upgrade to its Relative Strength (RS) Rating, from 70 to 76.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary rating measures share price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research shows that the market's biggest winners typically have an RS Rating of at least 80 as they begin their biggest climbs. See if Eagle Bulk Shipping can continue to rebound and clear that threshold.
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Eagle Bulk Shipping is not currently showing a potential buy point. See if the stock goes on to form a promising consolidation that could ignite a new run. Particularly with earnings coming up very soon.
The company showed 89% EPS growth last quarter. Revenue gains came in at 53%. The next quarterly numbers are expected on or around Nov. 3.
The company holds the No. 6 rank among its peers in the Transportation-Ship industry group. Kirby and Capital Products are also among the group's highest-rated stocks.
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