Energy Transfer saw a welcome improvement to its Relative Strength (RS) Rating on Monday, rising from 69 to 73.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
This unique rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks compares to other publicly traded companies.
Over 100 years of market history shows that the best stocks typically have an RS Rating north of 80 in the early stages of their moves. See if Energy Transfer can continue to show renewed price strength and clear that threshold.
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Energy Transfer is building a consolidation with a 13.77 buy point. While the stock is lower priced, it does trade over 9 million shares a day on average. So let's see if the stock can break out in heavy volume.
The company posted negative growth for both sales and earnings last quarter.
The company earns the No. 33 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. Dorian LPG and Frontline are also among the group's highest-rated stocks.
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